Cryptocurrency

Bank of England evaluates options for issuing state digital currency

BOE

According to the manager of the Bank of England, Andrew Bailey (Andrew Baily), the regulator is now evaluating the pros and cons of issuing the state cryptocurrency.

During a webinar with students, Bailey noted that the bank is carefully considering all options for issuing state digital currency. The Governor of the Central Bank of England said:

“We are considering this issue. We are thinking whether we should create a digital currency of the Bank of England. We carefully study this issue, as it can have a huge impact on both payment policy and society. I think that within a few years we will come to the creation of a digital currency of some kind. “

Bailey also said that now the regulator cannot allocate enough resources to study state cryptocurrencies, and the issuance of digital currency can be a big problem amid the effects of coronavirus.

Recall that earlier Bailey criticized Bitcoin and said that when investing in the first cryptocurrency, you can lose all the money.

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