‘Crucial’ for Central Banks to Consider Digital Currencies: Bank of England Exec
Governments need to research digital currencies so they can strike a balance with private issuers, said the BoE's chief cashier.
The U.K.'s central bank is discussing the possibility of launching a digital currency, perhaps in several years.
The Bank of England will not budge on its design principles for any future CBDC.
CoinDesk has learned the Bank of England's new settlement system is being built so it can be forwards compatible with a digital currency.
Analysts from the U.K.'s central bank said private currencies could work alongside any future CBDC initiative if they offered real utility.
The outgoing governor of the Bank of England highlighted the potential risks to monetary governance if a central bank digital currency were to be launched in the U.K.