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MNI BRIEF:Any Future BOE Britcoin 'Complement' To Cash-BOE/HMT

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Bank of EnglandPolicy NewsCentral Bank NewsHomepageEmailCEEMEABank Of England (BOE) Market NewsBriefUKStoryRegion
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Any digital currency introduced by the UK would be a complement to and not a replacement for cash, the Bank of England and HM Treasury said Thursday, with both accepting primary legislation would be needed to guarantee users’ privacy and control.
Both the BOE and the Government have a longstanding commitment to maintain access to cash for those who prefer it and neither institution wouls have access to personal information, they said. In a statement published via the web, both said they were continuing work on payments innovation that will strengthen the UK’s position as a competitive global leader in finance.
The statement was the latest step in a consultation programme.
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Any digital currency introduced by the UK would be a complement to and not a replacement for cash, the Bank of England and HM Treasury said Thursday, with both accepting primary legislation would be needed to guarantee users’ privacy and control.
Both the BOE and the Government have a longstanding commitment to maintain access to cash for those who prefer it and neither institution wouls have access to personal information, they said. In a statement published via the web, both said they were continuing work on payments innovation that will strengthen the UK’s position as a competitive global leader in finance.
The statement was the latest step in a consultation programme.