Lords Committee to take evidence on foreign policy effects of CBDCs and financial innovation
On Tuesday 26 October at 3pm, the Economic Affairs Committee will hold its third meeting on central bank digital currencies (CBDCs). In the first session, the Committee will hear from Tom Keatinge, Director, Centre for Financial Crime and Security Studies, Royal United Services Institute (RUSI). In the second session, the Committee will hear from Charlotte Hogg, CEO of Visa Europe and Richard Brown, Chief Technology Officer of R3.
The committee’s inquiry is looking at the main issues confronting HM Treasury and the Bank of England as they take evidence on the foreign policy effects of central bank digital currencies and explore the financial innovation.
Topics the committee is likely to cover in these sessions include:
- What problems would a central bank digital currency solve?
- The difficulties in making a central bank digital currency interoperable both internationally and with the domestic payments system
- The key trade-offs that central banks will have to consider in their design choices
- Whether a central bank digital currency can help tackle money laundering taking place in the UK?
In its last meeting, the Committee took evidence from: David Birch, advisor and commentator on digital financial services, Stephen Bonner, Executive Director, Regulatory Futures and Innovation, Information Commissioner's Office and Andrew Cregan, Head of Finance Policy, British Retail Consortium.
You can watch these evidence sessions on Parliamentlive.tv - Lords