UK government establishes central bank digital currency task force
The United Kingdom is the latest country to begin exploring the possibility of creating a central bank digital currency. Her Majesty’s Treasury and the Bank of England have begun preliminary central bank digital currency studies that could result in the creation of a national digital currency.In a document published by HM Treasury, the exchequer announced the creation of a CBDC taskforce in collaboration with the U.K.’s central bank.Jon Cunliffe, deputy governor of the Bank of England and Katharine Braddick, director general of financial services at HM Treasury will co-chair the task....
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As bitcoin and digital currencies grow in popularity in South Korea, financial regulators have launched a digital currency task force to focus on regulatory and licensing parameters for bitcoin exchanges. In a meeting last week, the first of many over the coming months, the task force agreed that the bitcoin and digital currency sector needs to be regulated, according to regional publication Korea Joongang Daily. The Financial Services Commission (FSC) convened the meeting, besides launching the task force, and saw other authorities including the Bank of Korea, the country’s central bank,....
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