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Monday, April 19, 2021

Bank of England Going Digital?

A Central Bank Digital Currency (CBDC) would allow households and businesses to directly make electronic payments using money issued by the Bank of England. 

 HM Treasury and the Bank of England have established the CBDC Taskforce to coordinate the exploration of a potential UK CBDC. The purpose of the Taskforce is to ensure a strategic approach to, and to promote close coordination between, the UK authorities as they explore CBDC. 

 The Government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK. 

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