Brexit as Crypto Case Study? Britain Contemplates Its CBDC

The Bank of England is considering issuance of a CBDC according to its governor, Andrew Bailey. Bloomberg reports that during a student webinar, the head of the Bank of England acknowledged that they are looking into the possibility of issuing a digital currency: “We are looking at the question of, should we create a Bank of England digital currency.

These factors have allowed the nation to retain its own sovereign currency — the British pound. If the U.K. decides to develop a CBDC, it could provide the British pound with some advantage over major rival currencies like the U.S. dollar and the Euro.

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