Bank of England says its role is not to protect banks against digital currencies

Date:

LONDON, Nov 13 – Bank of England Deputy Governor Jon Cunliffe said it was not his job to protect banks from the impact of future digital currencies, which could dramatically reduce households’ willingness to hold money in traditional bank accounts.

Thank you for reading this post, don't forget to subscribe!

“Our job is not to protect bank business models,” Cunliffe said.

Regulators including the BoE are considering what role digital currencies issued by central banks could play in simplifying domestic and international payments

Naija247news
Naija247newshttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

Share post:

Subscribe

Popular

More like this
Related

“Two broke people dating should be a crime” – Cynthia Morgan

March 28, 2024. Azonuchechi Chukwu. Nigerian singer, Cynthia Morgan has explained...

Positive Outlook for Nigeria as Interest-Rate Increases Spark Investor Interest

Nigeria Leads Emerging-Market Rebound Amidst Policy ReformsAs the first...

“West Africa’s Cocoa Crisis: Chocolate Prices Soar Amidst Devastation”

Janet Gyamfi, a 52-year-old cocoa farmer from western Ghana,...

Nigeria’s New Mining Licensing Strategy: A Shift Towards Local Processing

Nigeria is shifting its mining licensing process to prioritize...
Social Media Auto Publish Powered By : XYZScripts.com

Discover more from Naija247news

Subscribe now to keep reading and get access to the full archive.

Continue reading