UK Financial Services Minister Andrew Griffith called for a careful approach towards the introduction of a digital pound on 4 July, citing privacy concerns. The finance ministry has begun a joint public consultation with the Bank of England on the potential launch of a central bank digital currency (CBDC). The CBDC initiative must be proceeded with caution, which is the current approach in that joint consultation, said Griffith during a meeting with the House of Lords’ Economic Affairs Committee. He stressed the importance of engaging in a thorough public policy debate in the consultation.