Crypto bandwagon: UK mulls ‘Britcoin’ digital currency
Al Jazeera
The United Kingdom is the latest country to consider launching a digital currency.
British authorities are exploring the possibility of creating a new digital currency that Treasury chief Rishi Sunak touted as “Britcoin”. The Bank of England and the Treasury said Monday that they will work together to assess the benefits of a central bank digital currency, at a time when cash payments are generally on the decline, partly as a result of the coronavirus pandemic. The bank said the new currency, if it comes to pass, would be a new form of digital money for use by households and businesses and would exist alongside cash and bank deposits, rather than replacing them.
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