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.