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The Bank of England has decided it will not launch its own cryptocurrency due to its possible impact on the financial system, according to FT Advisor. The bank began researching cryptocurrencies in 2015 and was considering launching its own cryptocurrency.


🔗 Previously - Bank of England plots its own bitcoin-style digital currency

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1 comment

7 months ago

Repost in surviving thread - Seems the reason was corp orates would bank directly with the BoE, which would undermine fractional reserve banking. So given a digital £ is an inevitability, how will they solve this in the longer term and was ring fencing retail a blessing in disguise for this future?