Central Bank Digital Currency Comes To United Kingdom

The central bank digital currency is coming to United Kingdom . 

A press release states of the creation of a joint taskforce between Bank of England and Her Majesty’s Treasury for a potential CBDC.

The aim of the taskforce is to explore and understand the benefits of  having a central bank digital currency.

This digital currency would coexist with cash and bank deposits to be use by households and businesses.

The taskforce will also promote coordination between the UK authorities to go in line with their research and regulatory procedures.

Spearheading the CBDC Taskforce are  Jon Cunliffe, Deputy Governor for Financial Stability at the Bank of England and Katharine Braddick, HM Treasury’s Director General of Financial Services.

Having a CBDC in the United Kingdom is a good indication of keeping up with other countries in having its own digital currency.

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