UK Treasury Wishing A CBDC Chef To Develop Digital Pound

Key Points:

• The head of the CBDC is up for hire, according to a LinkedIn posting from the UK Treasury.
• The chosen applicant will be in charge of overseeing the HM Treasury’s investigation of a future digital pound.
• The CEO of the CBDC will be in charge of the Treasury team that will collaborate with the Bank of England on the upcoming government consultation on a digital pound.

The UK Treasury published a recruitment notice on LinkedIn for the head of the Central Bank Digital Currency (CBDC), according to a CoinDesk report.

The successful candidate will be tasked with leading the HM Treasury’s work on a potential digital pound. The CBDC chief will lead the Treasury team working with the Bank of England on the government’s upcoming consultation on a digital pound. The role falls within the existing payments and fintech team, separate from the head of crypto assets and digital currencies.

The listing stated:

“The successful candidate will be responsible for leadership of HM Treasury’s work on the potential digital pound- A U.K. central bank digital currency.”

The UK is still considering whether it should issue a digital pound. In November last year, Jon Cunliffe, deputy governor of the Bank of England, said that the collapse of the encryption exchange FTX and its impact on cryptocurrencies, in general, proved the need for a digital pound.

Previously, the Central Bank of Tanzania stated that it is still considering the introduction of a CBDC, but after identifying several challenges that may affect its implementation, it will take a phased, cautious and risk-based approach to the adoption of CBDC.

The central bank noted that at least four countries (Denmark, Japan, Ecuador, and Finland) have publicly withdrawn their plans for CBDC adoption, while six others have abandoned them.

As Coincu reported, the UK Forum for Digital Currencies, an alliance that will promote better laws, practices, and legislation surrounding digital currencies, was created by the City of London in collaboration with several trade organizations.

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