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Her Majesty’s Treasury and the Bank of England have revealed the establishment of a central bank digital currency (CBDC) taskforce. According to the announcement, the group’s purpose aims to explore a potential UK CBDC. UK Entities Invoke a CBDC Taskforce to Explore a Central Bank-Issued Digital Currency Central bank digital currencies (CBDCs) have been popping … Read more
The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency. Go to Source Powered by WPeMatico
Mark Carney, one of the most prominent central bankers of the post-financial crisis era, has officially joined the digital payments company. Stripe has all but abandoned cryptocurrency payment solutions for the time being, but its founders are positive about the emerging industry. Go to Source Powered by WPeMatico
The governor of the Bank of England, Andrew Bailey, believes that no existing cryptocurrencies will last. Talking about the design, governance, and arrangements of “a lasting digital currency,” the head of England’s central bank said, “I don’t think cryptocurrencies as originally formulated are it.” Bank of England Chief Andrew Bailey Doubts Any Existing Cryptocurrencies Will … Read more
The U.K. central bank governor believes existing cryptocurrencies will fail over the longer term due to their robust privacy features. Go to Source Powered by WPeMatico
BoE policymaker Andy Haldane believes a widely-used digital currency could have a positive impact on financial stability. Go to Source Powered by WPeMatico
Jon Cunliffe, one of the leaders of England’s central bank, said banks must adapt to the changes brought on by digital assets. Go to Source Powered by WPeMatico
“We will continue to explore the pros and cons of CBDC,” said Tom Mutton. Go to Source Powered by WPeMatico
Central bank digital currency interest continues gaining global traction. Go to Source Powered by WPeMatico
Bitcoin’s intrinsic value has been heavily discussed in the crypto community this week following a remark by the governor of the Bank of England suggesting that the cryptocurrency may have no intrinsic value. Does Bitcoin Have Intrinsic Value? Bank of England Governor Andrew Bailey talked about bitcoin’s intrinsic value during a question and answer session … Read more
