Sir Jon Cunliffe outlines Bank of England’s digital currency approach

With the Bank of England actively exploring central bank digital currencies (CBDCs), Asia House welcomed Sir Jon Cunliffe, the Bank’s Deputy Governor and co-chair of its new CBDC taskforce, to brief Corporate Members on this emerging issue.

In a comprehensive briefing, Sir Jon shared insights on how the Bank of England is approaching CBDCs, and the global trends he is observing – including China’s progress in developing a CBDC.

Asia House Corporate Members joined the discussion from around the world, with the Deputy Governor asked a range of questions on CBDCs, including the arguments for and against their adoption, the impact they could have on credit provision, and how digital currencies issued by central banks could shape public perceptions of cryptocurrencies. Sir Jon was also asked about the Bank of England’s own plans around developing a CBDC.

The off the record briefing was chaired by Michael Lawrence, Chief Executive of Asia House, and provided Corporate Members with unique insights from one of the UK’s key fiscal policymakers.

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