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The UK, like many other countries globally, is actively exploring the potential role
of Central Bank Digital Currencies. A range of factors motivate the exploratory work,
which the Bank of England has explored in their discussion paper, including: improving
access to central bank money; increasing the resilience of payments; and developing
more efficient, cheaper payments.<p> </p><p>No decision has yet been made on the issuance
of a CBDC, which would be a major national infrastructure project, however; as part
of the process of research and exploration, HM Treasury and the Bank of England will
publish a consultation later in 2022 setting out their assessment of the case for
a UK CBDC, including the merits of further work to develop an operational and technology
model for a UK CBDC.</p>
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