Especially in recent months, CBDC unit moves have been coming after one of the central banks. Finally, another digital currency move came from an important central bank.
CBDC A new one has been added to the central banks that established the unit, this time is different!
The Bank of England and Her Majesty’s Treasury have established a joint task force within the UK to explore the potential of digital currencies.
As of today’s press release, UK government officials have yet to confirm that the CBDC (Central Bank Digital Currency), they have announced that they have decided to investigate the issue.. The task force will also strive to ensure that the UK does not stay out of the race on digital currencies.
In a statement from the government, Finance Minister Rishi Sunak:
Our vision is to create a more open, greener, and more technologically advanced financial services industry.
Today’s summary is to increase the growing fintech, push the boundaries of digital finance and make our financial markets better. The steps we take to make it more efficient will move us forward.
CBDCs will not replace cash
Government officials say that if they are issued, the CBDC ‘s will coexist with cash and banknotes. The task force will be chaired by Jon Cunliffe, Bank of England vice-president for financial stability, and Katharine Braddick, chief financial services officer, Her Majesty’s Treasury.. According to the announcement, the two government agencies will involve other UK authorities as appropriate.. It also created a new CBDC unit, a CBDC engagement forum, and a CBDC technology forum within the Central Bank.
Central banks around the world are currently working on digital currencies to avoid competition from decentralized cryptocurrencies. .
Countdown for digital currency from central bank of central banks
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