Bank of England and Singapore regulator accelerate digital currency probes

clock • 5 min read
Bank of England and Singapore regulator accelerate digital currency probes

Bank of England and the UK HM Treasury announced on 9 November that they will conduct a consultation next year into the possible implementation of a UK central bank digital currency. The "next steps on the exploration of a UK Central Bank Digital Currency" (CBDC), which would be a new form of digital money issued by the Bank of England and for use by households and businesses for their everyday payments needs, would exist alongside cash and bank deposits, rather than replacing them. The...

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