{"id":551714,"date":"2023-02-14T16:38:48","date_gmt":"2023-02-14T13:38:48","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/uk-think-tank-launches-a-crusade-against-surveillance-cbdcs\/"},"modified":"2023-02-14T16:38:48","modified_gmt":"2023-02-14T13:38:48","slug":"uk-think-tank-launches-a-crusade-against-surveillance-cbdcs","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/uk-think-tank-launches-a-crusade-against-surveillance-cbdcs\/","title":{"rendered":"# UK think tank launches a crusade against &#8216;surveillance&#8217; CBDCs"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a36ecafcdc6a\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a36ecafcdc6a\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/uk-think-tank-launches-a-crusade-against-surveillance-cbdcs\/#%E2%80%9D_UK_think_tank_launches_a_crusade_against_%E2%80%98surveillance_CBDCs_%E2%80%9C\" >&#8221; UK think tank launches a crusade against &#8216;surveillance&#8217; CBDCs &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_UK_think_tank_launches_a_crusade_against_%E2%80%98surveillance_CBDCs_%E2%80%9C\"><\/span>&#8221; UK think tank launches a crusade against &#8216;surveillance&#8217; CBDCs &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDIvZTQwY2Y4ZDktMTM4Ny00MmQyLWI2NDctZjg4ZWQ2NzkzNGZiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-4bbf85c5>The U.K. Tax Reform Council has launched a campaign against the Bank of England&#8217;s plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm individual privacy and lead to intrusive changes to the taxation system.<\/p>\n<p>The freshly formed Tax Reform Council includes monetary economist John Chown, cofounder of the Institute for Fiscal Studies, on its advisory board. The Tax Reform Council believes implementing a CBDC would lead to increased government surveillance, greater intrusion from tax authorities and a heightened risk of cyber attacks on the nation&#8217;s monetary system.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We are pleased to announce the formation of our Advisory Board. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/6Lpmt3oJ0U\">pic.twitter.com\/6Lpmt3oJ0U<\/a><\/p>\n<p>\u2014 Tax Reform Council (@TaxReformUK) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/TaxReformUK\/status\/1562106626269749250?ref_src=twsrc%5Etfw\">August 23, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>The think tank shares similar concerns to the U.K. Bitcoin (BTC) community which has been vocal in its criticism of CBDCs.\u00a0Jordan Walker, co-founder of the U.K.\u2019s Bitcoin Collective, explained that \u201cthe rollout of CBDCs in the U.K. is dangerous on a matter of fronts. We would be handing over more control of our money to the government and central bank.\u201d<\/p>\n<blockquote><p>\u201cThis ties the monetary system even closer to the political system which has caused significant problems in the past and present. Instead we should be aiming to separate money and politics.\u201d<\/p><\/blockquote>\n<p>The advisory board economists including Patrick Minford, Julian Jessop and Chown, stated that \u201cthe decision of the Bank of England to pursue a British CBDC raises a number of very real concerns.\u201d The group seeks to raise awareness of the \u201cincreased government surveillance\u201d that CBDCs may offer. <\/p>\n<p>CBDCs claim to offer greater financial inclusion, reduced costs for businesses and consumers, and increased security. However, Bitcoin already offers these advantages and more: El Salvador banked swathes of its population by introducing the Bitcoin law, while Bitcoin also provides a way out for those living in authoritarian regimes. <\/p>\n<p>In the U.K. the Treasury and the Bank of England have been\u00a0recruiting for CBDC roles. The Bank of England has highlighted the &#8220;need&#8221; to create a digital version of the British pound, despite pushback from the broader crypto community.\u00a0<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>UAE central bank to issue CBDC as part of its financial transformation program<\/em><\/strong><\/p>\n<p>According to the Tax Reform Council, every personal transaction made using a CBDC would be recorded on the Bank of England&#8217;s private blockchain ledger, giving the taxman unprecedented access to individuals&#8217; financial history. The press release stated that this is already h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ening in China with the renminbi CBDC. <\/p>\n<p>Walker sounded the alarm: \u201cI believe we are closer to the rollout than many think and unless we have greater education around this topic, we\u2019ll see many people in this country unknowingly get sucked into this digitized monetary control.\u201d<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/uk-think-tank-launches-a-crusade-against-surveillance-cbdcs\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; UK think tank launches a crusade against &#8216;surveillance&#8217; CBDCs &#8220; The U.K. Tax Reform Council has launched a campaign against the Bank of England&#8217;s plan to introduce a central bank digital currency (CBDC). The non-profit organization warns that such a move could seriously harm individual privacy and lead to intrusive changes to the taxation&#8230;<\/p>\n","protected":false},"author":1,"featured_media":551715,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/e40cf8d9-1387-42d2-b647-f88ed67934fb.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75044,81260,75046,117,4966],"class_list":["post-551714","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-england","tag-bitcoin-community","tag-cbdc","tag-business","tag-united-kingdom"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551714","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=551714"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/551714\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/551715"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=551714"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=551714"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=551714"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}