{"id":99015,"date":"2020-10-27T23:20:00","date_gmt":"2020-10-27T20:20:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/boe-hasnt-made-any-decision-regarding-a-cbdc-says-fintech-director\/"},"modified":"2020-10-27T23:20:00","modified_gmt":"2020-10-27T20:20:00","slug":"boe-hasnt-made-any-decision-regarding-a-cbdc-says-fintech-director","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/boe-hasnt-made-any-decision-regarding-a-cbdc-says-fintech-director\/","title":{"rendered":"# BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director"},"content":{"rendered":"

“# BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director <\/strong>”
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At the 2nd Bund Summit held on Oct. 25, Bank of England fintech director Tom Mutton stated<\/a> that while a central bank digital currency, or CBDC, was \u201ca focus\u201d for the Bank of England, the position the bank had taken this past March hadn\u2019t changed.\u00a0<\/p>\n

\u201cWe haven\u2019t made any decision on whether or not to launch a retail CBDC,\u201d said Mutton. \u201cBut we are exploring the pros and cons with interest.\u201d<\/p>\n

Specifically, the BoE exec stated the central bank was looking into payment options for people in the U.K. who were affected by the COVID crisis \u201cto deliver safe, efficient and convenient payments to shoppers and merchants\u201d \u2014 a role that a CBDC could potentially fill. He added that privacy was \u201ca non-negotiable\u201d for a retail CBDC, \u201cthere must be \u2018no harm\u2019 to monetary and financial stability,\u201d and any digital currency released by the bank \u201cmust be able to coexist with, and complement bank notes and commercial bank money.\u201d<\/p>\n

According to Mutton, the challenges facing the central bank in releasing a CBDC includes promoting competition and innovation among other forms of money, ensuring technology<\/a> doesn\u2019t \u201cdictate policy,\u201d and working with other institutions for solutions. <\/p>\n

\u201cWe can\u2019t \u2018go it alone,\u2019\u201d said Mutton. \u201cCentral banks need to partner with a broad range of stakeholders given the breadth of issues presented by CBDC.\u201d<\/p>\n

Mutton\u2019s remarks are consistent with those of other leadership at the central bank. In July, BoE governor Andrew Bailey stated the bank was looking into the possibility of issuing a digital currency backed by fiat. However, Bailey has also been critical of cryptocurrencies\u00a0like Bitcoin (BTC), stating that they lack \u201cintrinsic value.\u201d<\/p>\n<\/div>\n

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For forums sites go to Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

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If you want to read more News<\/a> articles, you can visit our General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n

Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

“# BoE hasn’t ‘made any decision’ regarding a CBDC, says fintech director ” At the 2nd Bund Summit held on Oct. 25, Bank of England fintech director Tom Mutton stated that while a central bank digital currency, or CBDC, was \u201ca focus\u201d for the Bank of England, the position the bank had taken this past…<\/p>\n","protected":false},"author":1,"featured_media":99016,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/uploads\/2020-10\/9296c22a-b844-4fb5-9f75-18a99084421b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75044,75046,75022,70934,8820],"class_list":["post-99015","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bank-of-england","tag-cbdc","tag-central-bank","tag-regulation","tag-uk"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/99015","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=99015"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/99015\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/99016"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=99015"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=99015"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=99015"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}