UK Treasury warns of risks in digital pound

The UK Treasury committee warns of significant risks and challenges in introducing a digital pound, including threats to financial stability and personal privacy. The Bank of England and HM Treasury are urged to proceed with caution due to concerns over data usage, bank runs, and interest rate impacts. The report emphasizes the need for strong privacy safeguards and the coexistence of a digital pound with cash. The authorities will respond formally to the report and publish the next steps.