The Bank of England Sort of Took Cryptocurrencies In The Long Run

Representatives of the Central Bank of Great Britain are thinking about issuing their own digital currency.

Where does the information come from?

Although the Governor of the Bank of England, Andrew Bailey confirmed the possibility of the emergence of a state cryptocurrency, he said that this would not happen in the near future.

Andrew Bailey`s Statement

“We are looking at the question of, should we create a Bank of England digital currency. We’ll go on looking at it, as it does have huge implications on the nature of payments and society. I think in a few years time, we will be heading toward some sort of digital currency,” – Andrew Bailey said.

Long term plans

Apparently, the release of its own cryptocurrency is not on the agenda.

“The digital currency issue will be a very big issue,” Bailey said, “I hope it is, because that means Covid will be behind us.”