Protections Needed to Stop Digital Pound Ousting Stablecoins, Lawmakers Told

There’s a “question whether we could apply a competition objective to the Bank of England, when we think about things like central bank digital currency and how that’s implemented,” Jackson, who is the director of policy at Innovate Finance, told lawmakers on the Committee considering the bill. He added that the CBDC “could crowd out innovation and stablecoins unless it’s designed in a way that promotes competition.”