Cryptocurrencies

Treasury written question – answered on 10th September 2018.

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Photo of Adam Afriyie Adam Afriyie Conservative, Windsor

To ask the Chancellor of the Exchequer, whether he has had discussions with the Bank of England on the establishment of a state-backed digital currency.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

The Chancellor has not had any formal discussions with the Bank of England about a state-backed digital currency. Whilst the Bank of England is not planning to create a central bank-issued digital currency, it has been carrying out research to understand any potential implications. For more information on this research, please visit this page: https://www.bankofengland.co.uk/research/digital-currencies

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