UK gov’t is hiring a central bank digital currency lead for Treasury team

Regulation

HM Treasury in the United Kingdom has begun calling for applicants to lead the central bank digital currency team behind efforts towards a digital pound.

In a job posted to LinkedIn on Jan. 24, the U.K. Treasury called for a team lead for its Payments and Fintech Team of roughly 20 people focused exploring on a “potential digital pound”. According to the posting, the CBDC head would determine the “strategic direction” for Treasury’s efforts to develop a digital currency in line with the government’s agenda, as well as analyze potential policy issues for lawmakers.

“Treasury and the Bank of England are working together through the CBDC Taskforce to explore the case for a digital pound,” said the job posting. “Treasury and the Bank of England have committed to consult jointly on a potential digital pound, and the successful candidate will lead the Treasury team in the wake of the consultation’s issuance, including working with the Bank of England to consider consultation responses.”

Many U.K. lawmakers and industry leaders have all offered their two cents — or rather, pence — on the introduction of a CBDC as the digital asset space grows. Tony Yates, a former senior adviser to the Bank of England, advised against CBDCs in a January interview, arguing it was “not worth the costs and risks.” The current governor of England’s central banks has likewise expressed skepticism about a digital pound.

Related: UK MP says stablecoin is a gateway to CBDC, only crypto can ‘disrupt’ settlements

The U.K. has experienced major shake ups in leadership, from the government going through three prime ministers within a matter of months to Queen Elizabeth II passing in September 2022. However, lawmakers continue to mull policies related to digital asset regulation and enforcement.

At the time of publication, 16 applicants had applied for the CBDC role at Treasury.

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