Bank of England To Restrict Banks Against Digital Currencies

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Bank of England Deputy Governor Jon Cunliffe said it was not his central bank’s responsibility to protect banks from whatever impacts digital currency projects may bring.

“Our job is not to protect bank business models,” Cunliffe said.

Politicians must fast-track their analysis of central bank digital currencies to stay ahead of the private sector, he said.

The Bank of England is one of the many central banks currently studying digital currencies.