Bank of England Deputy Governor Jon Cunliffe said it was not his central bank’s responsibility to protect banks from whatever impacts digital currency projects may bring.

  • “Our job is not to protect bank business models,” Cunliffe said, according to Reuters.
  • Politicians must fast-track their analysis of central bank digital currencies to stay ahead of the private sector, he said.
  • The Bank of England is one of the many central banks currently studying digital currencies.

Disclosure
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.