The U.K. is developing its digital currency, 'Britcoin', to maintain monetary sovereignty amidst the global rise of cryptocurrencies. The Bank of England and Treasury aim to address economic stability, enhance competition in digital payments, and bridge traditional and digital currencies. The digital pound will be pegged to sterling, with transactions via anonymized wallets, maintaining cash as a payment option. The full implementation could take several years.
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🔥 NEW: U.K. to Create Digital Currency 'Britcoin'
The U.K. is developing its digital currency, 'Britcoin', to maintain monetary sovereignty amidst the global rise of cryptocurrencies. The Bank of England and Treasury aim to address economic stability, enhance competition in digital payments, and bridge traditional and digital currencies. The digital pound will be pegged to sterling, with transactions via anonymized wallets, maintaining cash as a payment option. The full implementation could take several years.
#crypto cbdc #stablecoin