Bank of England indicates no urgency for digital pound as 2026 decision approaches

Sarah Breeden, Deputy Governor of the Bank of England, stated that there is no immediate need to rush the development of a digital currency for the UK, suggesting that commercial stablecoins and tokenized bank deposits could serve as alternatives. The Bank and HM Treasury are expected to make a decision on whether to proceed with a state-issued digital pound by the end of 2026, with a new sterling stablecoin regime slated for 2027.