UK Treasury Economic Secretary: Digital Pound Will Not Track Retail Transactions

Andrew Griffith, UK Treasury Economic Secretary, recently said that the digital pound will not track retail transactions. "If the UK decides to move forward with a retail-focused CBDC, it will be a platform model that wouldn't allow the government to know individual transaction data."

Intermediaries like banks will issue a wallet that individuals would use, he assured members of Parliament. The government wouldn't have visibility on the end user's actions, except under existing measures to protect against money laundering or fraud. "The government takes these concerns very seriously and will proceed on a design basis that fully accommodates those concerns about privacy," Griffith said.