The Digital Pound Foundation (DPF), a group of technology, innovation, and regulatory experts, has announced its launch as an independent non-profit organization in the U.K.
According to a release issued on Thursday, the DPF will work to promote the implementation of a central bank digital currency (CBDC) in the country.
Indeed, as previously reported by Cointelegraph, the U.K. government in April established a CBDC task force to explore preliminary matters related to the creation of a national digital currency.
The DPF, as part of its stated mandate, will carry out research and engage in collaboration with stakeholders to support the U.K.’s CBDC project.
In addition to supporting developmental efforts, the foundation will also reportedly advocate for robust regulations for the U.K.’s CBDC project as well as favorable legal provisions