HM Treasury in the UK has started a call for applicants to lead the central bank’s digital currency team behind efforts towards a digital pound.
In a project posted on LinkedIn on January 24, the British Treasury asked for a team leader for a Payments and Fintech Team of about 20 people focused on exploring “the potential of the digital pound”. According to the post, the head of the CBDC will set a “strategic direction” for the Treasury’s efforts to develop a digital currency that fits the government’s agenda, as well as analyze potential policy issues for lawmakers.
“The Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for the digital pound,” the project post said. “The Treasury and the Bank of England have committed to a joint consultation on the potential digital pound, and the successful candidate will lead the Treasury team following the publication of the consultation, including working with the Bank of England to consider the response to the consultation.”
Many UK MPs and industry leaders have given their two cents – or rather, pence – about the introduction of CBDCs as the digital asset space expands. Tony Yates, a former senior adviser to the Bank of England, advised against CBDC in a January interview, arguing that it was “not worth the cost and risk.” British central bank governors have also now expressed skepticism about the digital pound.
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The UK is experiencing a change in leadership, from a government that went through three prime ministers in a matter of months to Queen Elizabeth II’s death in September 2022. However, parliamentarians continue to consider policies related to the regulation and enforcement of digital assets.
At the time of publication, 16 applicants had applied for the CBDC role at the Treasury.