TechFlow news, June 22 — According to Bloomberg, Bank of England Governor Andrew Bailey on Friday questioned the necessity of launching a digital pound, casting uncertainty over the UK's central bank digital currency (CBDC) plans. Bailey said he has not yet been "convinced that we need to create a new form of money" to benefit from advances in payment technologies such as smart contracts and anti-fraud measures. This statement could mean the UK government may need to reassess the pace of its digital currency strategy.
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