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07/14/2020
Bank Of England Chief Sees Bank-Backed Digital Currency On Horizon
PYMNTS.com
The Bank of England (BoE) continues to send bullish signals about the potential for bank-backed digital currency, but anyone hoping for a quick launch is likely to be disappointed.
“We are looking at the question of, should we create a Bank of England digital currency,” Andrew Bailey, governor of The Bank of England, told students on a Monday (July 13) webinar, according to Bloomberg. “We’ll go on looking at it, as it does have huge implications on the nature of payments and society.”
Bailey’s comments come roughly six months after the BoE said it would help lead a working group of some of the world’s top central banks to explore the various issues involved with potentially issuing central bank digital currencies (CBDCs).
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