Critics highlight potential risks of government overreach, with fears of the digital pound becoming a “digital spy coin.”
The UK is set to launch a Central Bank Digital Currency (CBDC) pilot in 2025, but critics are sounding alarms over privacy concerns. While the Bank of England promises to modernise the financial system, experts, including Big Brother Watch, question whether enough has been done to protect citizens’ freedoms.
Susanna Copson, legal and Policy Officer at Big Brother Watch, argues that the case for a CBDC remains unclear, especially with risks to privacy and equality. She warns that a digital pound without anonymity could lead to government overreach, turning the currency into what she describes as a ‘digital spy coin.’
As awareness remains low, organisations like Big Brother Watch push for public participation in government consultations. They urge citizens to contact their MPs and engage in discussions to protect their freedoms in the face of this looming digital shift.
