UK to explore issuing its own digital currency amid bitcoin boom

LONDON — Britain is the latest country to join a global race toward central bank digital currencies."We're launching a new taskforce between the Treasury and the Bank of England to coordinate exploratory work on a potential central bank digital currency," U.K. Finance Minister Rishi Sunak said at a fintech industry conference on Monday.In a separate statement, the Bank of England said such a currency would be a "new form of digital money issued by the Bank of England and for use by households and businesses" that exists alongside cash and bank deposits rather than replacing them.The U.K. government hasn't yet decided whether to introduce a digital version of the British pound, but said it would explore the "objectives, use cases, opportunities and risks" involved if it were to proceed. The Bank of England will also set up a unit within the institution dedicated to exploring a central bank digital currency.It…

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