Bank of England considers shelving digital pound plan

According to foreign media reports, Bank of England officials are considering suspending the public digital pound plan due to increasing doubts about the project's effectiveness. This reflects the diminishing enthusiasm for government supported digital currencies worldwide. According to insiders, the Bank of England has privately urged the banking industry to accelerate payment innovation in order to achieve similar benefits without launching a central bank digital currency (CBDC). The Bank of England has stated that it still hopes to retain the ability to launch a CBDC if necessary, but is willing to take a step back if the private sector continues to introduce new electronic payment technologies and its staff believes that the benefits of advancing the digital pound are declining. (Golden Ten)