The Bank of England and the Treasury invite the public to participate in the development of the digital pound plan

ChainCatcher news, UK regulators announced on Monday that the Bank of England is beginning further research and development on a digital pound for purchasing goods and services. The central bank and the country's Treasury hope to involve the public in its digital pound initiative and will release a consultation paper for public feedback on Tuesday.

According to insiders, the Bank of England plans to conduct its own experimentation and design phase over the next two years, after which it will decide whether to establish a digital pound. The pilot testing of the central bank digital currency is not expected to start until at least 2025. (CoinDesk)