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Gotta love politicians trying to be trendy while not actually understanding anything

• switch007 5y ago
  Sunak understands plenty. He's the richest politician in the UK with a net worth of at least £200m. He's previously announced a plan for 'Britcoin', totally not crypto, but a totally government-controlled currency system to serve their own authoritarian purposes. > Rishi Sunak, the chancellor, has asked the Bank of England to look at the case for a new “Britcoin”, aimed at tackling some of the challenges posed by cryptocurrencies such as bitcoin. > A Bank-backed digital version of sterling would potentially allow businesses and consumers to hold accounts directly with the central bank and to sidestep others when making payments, changing the lenders’ role in the financial system. > “We’re launching a new taskforce between the Treasury and the Bank of England to co-ordinate exploratory work on a potential central bank digital currency [CBDC],” the chancellor told an audience of financial executives today at the start of the UK FinTech Week conference https://www.thetimes.co.uk/article/sunak-considering-a-britcoin-backed-by-the-bank-of-england-ddcjbkmmf https://www.thetimes.co.uk/article/sunak-considering-a-britc...