BoE launches design phase of ‘digital pound’ project
UK likely to issue central bank digital currency as anchor for monetary sovereignty
The Bank of England is moving from research to design on a potential “digital pound”, as it views the launch of a retail central bank digital currency (CBDC) as increasingly likely.
“As the world around us and the way we pay for things becomes more digitalised, the case for a digital pound in the future continues to grow,” said governor Andrew Bailey.
The BoE said it was now “likely” that a digital pound would be issued, in a significant departure from its previous, more cautious, language.
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