A  influential group in the UK Parliament has suggested that the Bank of England should consider whether it really needs a state-supported digital pound, as the risks to the banking system and privacy may outweigh the benefits. The Treasury Committee has urged the central bank to "proceed with caution" and consider measures to reduce the risks associated with "Britcoin", including limiting the amount of digital pounds that consumers can hold. The conclusion drawn by a group of parliament members from major political parties is that "at this stage, it is not yet clear whether the benefits may outweigh these risks."