Bank of England ponders minting 'Britcoin' to sit alongside the Pound

Bank of England ponders minting 'Britcoin' to sit alongside the Pound

The Bank of England and HM Treasury have formed a Taskforce to "coordinate the exploration of a potential UK Central Bank Digital Currency" (CBDC).


Let's call it "Britcoin".

A Bank of England announcement quickly points out that no decision has been taken to greenlight Britcoin and omits any mention of why the time is right to ponder a digital currency.


But the bank has nonetheless decided to "engage widely with stakeholders on the benefits, risks and practicalities" of a CBDC.

So broad is the effort to ponder a CBDC that four new bodies have been created to do the job.


One is the Taskforce, which "aims to ensure a strategic approach is adopted between the UK authorities as they explore CBDC, in line with their statutory ..

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