Britcoin? UK considers developing digital sterling as cash payments decline

The Bank of England

The Bank of England said it would team up with the UK Treasury to explore a potential national virtual currency as Britain eyes joining the crypto-frenzy that has gripped state regulators across the world.

The taskforce will coordinate work on a possible “Central Bank Digital Currency (CBDC)” that could be used by both households and businesses, and would exist alongside cash and bank deposits.

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