Connect with us

Bitcoin News

Digital Pound Could Present ‘Challenges’ for UK, Says Mark Carney



The outgoing governor of the Bank of England (BoE) has highlighted the potential risks to monetary governance if a central bank digital currency were to be launched in the U.K.

In a foreword to a BoE working paper on Thursday, Mark Carney wrote, “While CBDC (central bank digital currency) poses a number of opportunities, it could raise significant challenges for maintaining monetary and financial stability.”

As reported by Reuters, Carney added that a digital pound would have to be “very carefully designed” if the central bank went ahead with a launch.

The comments will be among Carney’s last as BoE governor. The Canadian will leave the central bank Friday for a new role as U.N. special envoy on climate action and climate finance. He will be succeeded at the BoE by Andrew Bailey, current head of the Financial Conduct Authority.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Like what you read? Give us one like or share it to your friends
original post…

Continue Reading

Recent Posts

Copyright © 2019 The Crypto Report