Bank of England considered issuing cryptocurrency

According to reports, the Bank of England governor Mark Carney said on Monday that he will consider allowing the Bank of England to issue a digital currency, but Carney subsequently added that this is not an urgent issue at present.

Carney’s remarks contradict the Bank of England’s statement earlier this year that the Bank of England stated in its statement that it would not issue a cryptocurrency operated by the central bank. At that time, the Bank of England worried that the introduction of cryptocurrencies operated by the central bank could lead to the inability to use interest rate policies to maintain financial stability.

Carney believes that there are advantages to applying blockchain technology to the central bank. He said that this will stabilize finances and potentially save computing energy.

In other news, according to Chinese state media, China prosecuted 98 people and recovered US$268 million in charges involving a pyramid "Ponzi" scheme related to cryptocurrency. The money was promoted as a private blockchain cryptocurrency.