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Central bankers split on CBDC future


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Central bankers split on CBDC future
14 May 2021
2
The debate over the value of CBDCs continues to simmer, with central bankers on either side of the pond weighing in with very different opinions.
More than half of the world s central banks are actively exploring CBDCs, while some, most notably China s, are well on the way to a full launch.
In a speech this week, Bank of England Deputy Governor Jon Cunliffe gave one of the strongest hints yet that the UK is on its way towards some form of Britcoin. ....

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Bank of England's Cunliffe sees case for BoE digital currency


By Reuters Staff
1 Min Read
LONDON, May 13 (Reuters) - Bank of England Deputy Governor Jon Cunliffe said on Thursday he could see a good case for the BoE to issue its own digital currency, though no decision has been reached yet.
Cunliffe said the coronavirus pandemic had accelerated a shift away from cash issued by the BoE and in favour of ‘private’ money created by banks which the BoE regulates.
“We may not be there yet, but it looks probable in this country that if we want to retain public money capable of general use, and available to all citizens, the state will need to issue, public digital money,” he said in a speech to the OMFIF central banking think tank. (Reporting by David Milliken, editing by Andy Bruce) ....

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City of London Frets About Life After 2020 | naked capitalism The City's financial services sector benefited hugely from the creation of the euro. Now, a large part of that business is at risk.


The City’s vast financial services sector benefited hugely from the creation of the euro, despite the UK not being a member. Now, a large part of that business is at risk.
Trade deal or no trade deal, the UK’s all-important financial services sector, which accounts for more than one-tenth of the UK’s tax revenues and one-fifth of its service exports, is almost certain to lose its current access to the EU market when the withdrawal agreement transition period comes to an end, on December 31. And Brussels appears to have little intention of granting the sector equivalence status any time soon.  ....

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