The Bank of England (BOE) is considering whether to shelve its digital pound plan and is privately urging the banking industry to accelerate payment innovation, seeing that the benefits of launching a central bank digital currency (CBDC) are diminishing, Bloomberg reported, citing sources.With the emergence of stablecoins and other payment innovations, global interest in creating state-led digital currencies is receding. The US government has also blocked the Fed from advancing a CBDC on the grounds of financial stability, though the European Central Bank is still pushing for the launch of a digital euro.Related NewsTesla Tumbles 4%+ After Hours; Musk Warns of Tough Quarters AheadRecent research by the BOE has found that the benefits of launching a CBDC are fading. As the CBDC plan is still in the design phase, no final decision has yet been made on whether to proceed with its launch.