The British government and Bank of England will look into creating a central bank digital currency , the two institutions announced on Monday, the latest in …
The British government and Bank of England will look into creating a central bank digital currency, the two institutions announced on Monday, the latest in a string of initiatives the government is taking to try to ensure Britain holds on to its position as a leading destination for financial services. A task force will explore the uses and risks of a digital currency, the Bank of England and Treasury said. They haven’t made a decision on whether to introduce one. But the move will let Britain catch up with other central banks. The Federal Reserve and the European Central Bank have already started researching a digital dollar and a digital euro. Rishi Sunak, Britain’s top finance official, also said on Monday that the Treasury would make changes to the financial technology industry and public listings process based on the recommendations of two recent reviews.
