The Bank of England has officially launched new digital pound CBDC project that is set to implement a “new form of digital money by households and businesses for everyday payment needs”. The intention of this project is to sit alongside with the cash, not replacing it with digital currency. The consultation paper of the project shows that a potential limit on the amount held by each citizen between £10,000 and £20,000 per individual is likely to strike an appropriate balance between hanging risks and supporting wide usability of the digital pound.
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