LONDON, Feb 7 (Reuters) - British consumers would be
limited to holding a maximum of 20,000 pounds ($24,000) each if
the Bank of England goes ahead with a digital version of the
British currency, BoE Deputy Governor Jon Cunliffe said on
Tuesday.
Britain's government said on Monday that it and the BoE were
pressing on with work on a possible digital pound that was
likely to enter circulation in the second half of this decade,
though no final decision has been made on whether to go ahead.
"We propose a limit of between 10,000 pounds and 20,000
pounds per individual as the appropriate balance between
managing risks and supporting wide usability of the digital
pound," Cunliffe said in a speech to members of UK Finance, a
banking industry body.
A limit of 10,000 pounds would mean that three quarters of
people could receive their pay in digital pounds as well as
holding pre-existing balances in the same account, while a
20,000 pound limit would allow almost everyone to use digital
pounds for day-to-day transactions, Cunliffe said.
($1 = 0.8332 pounds)
(Reporting by Huw Jones, editing by David Milliken)
Messaging: huw.jones.thomsonreuters.com@reuters.net))
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