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Bank of England Official Balks at Shielding Banks Against Digital Currencies: Report
Deputy Governor Jon Cunliffe says protecting bank business models is not BoE's responsibility.
Bank of England Deputy Governor Jon Cunliffe said it was not his central bank's responsibility to protect banks from whatever impacts digital currency projects may bring.
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- “Our job is not to protect bank business models,” Cunliffe said, according to Reuters.
- Politicians must fast-track their analysis of central bank digital currencies to stay ahead of the private sector, he said.
- The Bank of England is one of the many central banks currently studying digital currencies.
Danny Nelson
Danny is CoinDesk's managing editor for Data & Tokens. He formerly ran investigations for the Tufts Daily. At CoinDesk, his beats include (but are not limited to): federal policy, regulation, securities law, exchanges, the Solana ecosystem, smart money doing dumb things, dumb money doing smart things and tungsten cubes. He owns BTC, ETH and SOL tokens, as well as the LinksDAO NFT.
