House of Lords’ report: Central bank digital currencies: a solution in search of a problem?
February 08, 2022
On 13 January 2022, the House of Lords’ Economic Affairs Committee (Committee) published a report ‘Central bank digital currencies: a solution in search of a problem?’. The report states that their Lordships have yet to hear a convincing case for why the UK needs a retail central bank digital currency (CBDC). The Committee found that while a CBDC provides advantages, it could present challenges for financial stability and the protection of privacy.