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The UK is moving toward launching a central bank-backed digital currency.
The Bank of England in London.
Photographer: Jose Sarmento Matos/BloombergMuhammad Farouk Abdulrahman
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The Bank of England and the UK Treasury are moving forward with a to launch a digital currency, which has been dubbed “
The action is part of a global effort to stay ahead of various new currency options and prepare for a future in which consumers adopt card payments backed by companies instead of governments. Yet, some critics are calling it a “solution in search of a problem”, particularly in light of the country’s already-strong fintech industry.
Senior editor Philip Lagerkranser and reporter discuss the implications in this episode.
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This podcast is produced by the Bloomberg Crypto Podcast team: Supervising producer: Vicki Vergolina, Senior Producer: Janet Babin, Producers: Sharon Beriro and Muhammad Farouk, Associate Producers: Mo Andam and Ty Butler. Sound Design/Engineer: Desta Wondirad.
