Proposed Digital Currency No Threat To Bank Of England's Operations: Official
NDTV
Bank of England is due to consult this year about whether it should create its own digital currency - a competitor of sorts to cryptocurrencies
A central bank digital currency (CBDC) would not pose too big a challenge for the Bank of England's operations, Andrew Hauser, the BoE's executive director for markets, said on Wednesday.
The BoE is due to consult this year about whether it should create its own digital currency - a competitor of sorts to cryptocurrencies such as bitcoin - after encouragement from finance minister Rishi Sunak to consider a possible 'Britcoin'.
Hauser said a central bank digital currency would be the first new type of central bank liability in centuries, but not one that was incompatible with the BoE's goals.
"The dog may be old, but it can still perform new tricks," Hauser said ahead of a discussion to be hosted by the Federal Reserve Bank of New York.
