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Japan’s largest bank developing new digital currency
And the CityUnited project has urged Boris Johnson and Rishi Sunak to be bold and think big as they look a future in which e-commerce will increasingly take centre-stage – emphasising the potential for the UK to get a massive head-start on the European Union. China is already pushing ahead with its own plan to launch its Central Bank Digital Currency’ by the time of next year’s Beijing Winter Olympics – and last month Mr Sunak announced the creation of a task force aimed at exploring the possibility of Britain launching what he termed “Britcoin”.
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LONDON (Reuters) - A digital pound must be at the heart of Britain’s efforts to strengthen the City of London’s global attraction as a financial centre after Brexit, think-tank CityUnited Project said on Friday.
FILE PHOTO: Wads of British Pound Sterling banknotes are stacked in piles at the Money Service Austria company s headquarters in Vienna, Austria, November 16, 2017. REUTERS/Leonhard Foeger/File Photo
The finance ministry is due to set out proposals for making Britain’s capital market more attractive after Amsterdam toppled London to become Europe’s top share trading centre after the City was cut off from the European Union on Dec. 31.
Digital pound would boost post-Brexit City of London
China is planning to put its digital yuan to use at the 2022 Winter Olympic Games in Beijing
Reuters
April 09, 2021
LONDON:
A digital pound must be at the heart of Britain’s efforts to strengthen the City of London’s global attraction as a financial center after Brexit, think-tank CityUnited Project said on Friday.
The finance ministry is due to set out proposals for making Britain’s capital market more attractive after Amsterdam toppled London to become Europe’s top share trading center after the City was cut off from the European Union on December 31.
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A financial think tank has suggested that Britain should adopt a digital pound in an effort to strengthen Londonâs status as a global trade center in the wake of Brexit. Previously the gravitational center-point of Europeâs financial sector, London saw much of its influence lost at the end of 2020 when Britainâs exit from the European Union was finalized.
The United Kingdomâs Finance Ministry will now take proposals on how to make the City of London more attractive to global traders and pull activity back from Amsterdam, which emerged as the new EU trading hub post-Brexit.