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Bank of England Debating Digital Currency Creation, Bailey Says

England Gambles On Lifting Lockdown to Save Economy
Photographer: Simon Dawson/Bloomberg

The Bank of England is reviewing whether it should create a central bank-backed digital currency, according to governor Andrew Bailey.

“We are looking at the question of, should we create a Bank of England digital currency,” Bailey said Monday in a webinar event with students. “We’ll go on looking at it, as it does have huge implications on the nature of payments and society.”