GOVERNMENT CLOSING BANK ACCOUNTS DOWN ALREADY

Central bank digital currency (CBDC) is money that a country’s central bank can issue. It’s called digital (or electronic) because it isn’t physical money like notes and coins. It is in the form of an amount on a computer or similar device.

The Bank of England is the UK’s central bank and together with HM Treasury, we are looking closely at the idea of a central bank digital currency for the UK. If we introduced one, we’d call it the digital pound.