UK Will Start Working On Digital Currency

The UK will start working on digital currency. Minister Sunak made a statement regarding the 'digital pound'.

British Finance Minister Rishi Sunak stated that they wanted to make the British financial sector more innovative after Brexit and within this framework, the Treasury and the Central Bank will work on the suitability of the "digital pound" for companies and households. There have been discussions for a while about making the UK version of Bitcoin (BTC), the largest of the cryptocurrencies, but the issue has never reached this stage. On the other hand, the Bank of England said that digital currency will not replace cash. With these statements, the UK has become one of the countries that will issue its own digital currency. The Bank for International Settlements survey conducted last year with 66 central banks revealed that at least 52 countries are developing their own digital currency. The statements made by Minister Altar came after the Central Bank's decision to test pilot programs for the digital Yuan in more cities in China, the first country to be prepared to issue digital currency. In addition to China, Sweden is also in the process of developing the idea for e-crowns.