Pass a CBDC Safeguards Act before any introduction of a digital pound

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Pass a CBDC Safeguards Act before any introduction of a digital pound

Petition Details

Legislate binding legal safeguards before any central bank digital currency (CBDC) roll-out: guarantee continued access to cash, prohibit unilateral account freezes without judicial due process, require privacy protections for routine transactions, and create independent oversight and auditability.

Additional Information

We call on Parliament to pass a CBDC Safeguards Act before any launch of a digital pound. Protections must include: cash guaranteed alongside CBDC; privacy for everyday payments; due process before freezing accounts; ban on expiry dates, negative balances or forced spending; and independent oversight. We also want it to include clear rules for stablecoins/DeFi to ensure safety, backing and consumer protection, protecting freedom and choice for all citizens. Safeguards must also ensure that no CBDC can be linked to any digital identity system without explicit primary legislation and clear public consent.

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