UK is 'likely' to need digital currency, says BoE and Treasury

02/04 23:56

According to Cointelegraph, the Bank of England (BoE) and Treasury believes the United Kingdom is likely to need to create a central bank digital currency (CBDC) by 2030, according to a Telegraph report on Feb. 4. The "digital pound" roadmap is set to be introduced next week, a government source told the newspaper. Deputy Governor Jon Cunliffe is scheduled to give an update on the BoE's work on the CDBC on Feb. 7 "On the basis of our work to date, the Bank of England and HM Treasury judge that it is likely a digital pound will be needed in the future," noted Governor Andrew Bailey and finance minister Jeremy Hunt to the Telegraph.
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