What is “Britcoin” and what could it mean for you?

Rishi Sunak has asked the Bank of England to explore the possibility of creating a digital currency for the UK - dubbed Britcoin. Saloni Sardana looks at what that might mean for you.

Rishi Sunak
Rishi Sunak: keen on exploring the idea of a UK cryptocurrency
(Image credit: © Tolga Akmen - WPA Pool/Getty Images)

Central bank digital currencies (CBDCs) received yet another shot in the arm last week after the Bank of England (BoE) and the Treasury launched a taskforce to look into a potential digital currency for Britain, nicknamed “Britcoin”.

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Saloni Sardana

Saloni is a web writer for MoneyWeek focusing on personal finance and global financial markets. Her work has appeared in FTAdviser (part of the Financial Times),  Business Insider and City A.M, among other publications. She holds a masters in international journalism from City, University of London.

Follow her on Twitter at @sardana_saloni