Her Majesty’s Treasury in the UK has begun asking applicants to lead the central bank’s digital currency team behind efforts towards a digital pound.
In a paper posted on LinkedIn on January 24, the UK Treasury I call for a team lead for their Payments and Fintech team of approximately 20 people focused on exploring a “potential digital pound.” According to the post, the CBDC chief would determine the “strategic direction” of the Treasury’s efforts to develop a digital currency in line with the government’s agenda, as well as discuss potential policy issues for lawmakers.
“The Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound,” the job posting read. “The Treasury and the Bank of England have committed to consult jointly on a potential digital pound, and the successful candidate will lead the Treasury team following the issuance of the consultation, including working with the Bank of England to consider the responses to the query.
Many UK lawmakers and industry leaders have offered their two cents, or rather pennies, on the introduction of a CBDC as the digital asset space grows. Tony Yates, a former senior adviser at the Bank of England, advised against CBDCs in an interview in January, arguing that it was “not worth the costs and risks.” The current governor of England’s central banks has also expressed skepticism about a digital pound.
Related: UK MP Says Stablecoin Is Gateway To CBDC, Only Crypto Can ‘Disrupt’ Deals
The UK has undergone major changes in leadership, from government passing through three prime ministers in a matter of months to the death of Queen Elizabeth II in September 2022. However, lawmakers continue to reflect on policy related to regulation and digital asset application.
At press time, 16 applicants had applied for the CBDC position at Treasury.
