UK will likely need to issue a digital currency, says BoE deputy governor
Cointelegraph
Published May 14, 2021 07:15AM ET
Updated May 14, 2021 09:20AM ET
The Bank of England's deputy governor Jon Cunliffe has argued that a sea change in the issuance and circulation of public and private monies could make general access to a digital form of central bank money crucial for ensuring financial stability in future.
In a speech at the OMFIF Digital Money Institute in London, Cunliffe reflected on past, present and future trends in the widespread use of private money issued by commercial banks, noting that the COVID-19 pandemic has accelerated existing trends away from public to private money for everyday payments.
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Written By: Cointelegraph
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