Bank of England Deputy Governor: No Need to Rush CBDC Launch, Hopes Domestic Stablecoins Will Replace US Dollar Stablecoins

According to Bloomberg, Sarah Breeden, Deputy Governor of the Bank of England, stated at the International Monetary Fund (IMF) annual meeting in Bangkok that, given the numerous innovative developments currently advancing in parallel in the digital payments sector, the UK has no immediate plans to introduce a central bank digital currency (CBDC) to the public. Breeden noted that the decision to proceed with a retail CBDC (dubbed "Britcoin") will depend on whether equivalent benefits from tokenization and financial innovation can be achieved through other channels.