Reported about 13 hours ago
The Bank of England is actively navigating the evolving debate surrounding digital money, focusing on stablecoins, central bank digital currencies (CBDCs), and tokenized deposits. The central bank acknowledges concerns about stablecoins undermining monetary trust and is considering measures to regulate their use while also exploring the potential benefits of a digital pound. Various perspectives exist within the bank, with some advocating for CBDCs as a necessary response to stabilize the monetary system, while others suggest that tokenized deposits could effectively continue the traditional banking model in a digital context, allowing for coexistence of different digital currencies.
Source: YAHOO