The Pros and Cons of ‘Britcoin’: UK’s CBDC in the Spotlight
The Bank of England, together with the UK’s Treasury, is actively deliberating the risks and advantages of introducing a Central Bank Digital Currency, dubbed Britcoin. Their focus is on its potential economic impact and benefits for UK citizens.
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The Bank of England, together with the UK's Treasury, is actively deliberating the risks and advantages of introducing a Central Bank Digital Currency, dubbed Britcoin. Their focus is on its potential economic impact and benefits for UK citizens.
“The digital pound give people more choice in how they make everyday payments,” the Bank of England has announced.
Prior to any launch, wide-ranging public consultations and stringent data protection measures are being planned. Meanwhile, these financial institutions emphasize that current steps represent research initiatives rather than definitive plans for the future.
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