BoE’s Bailey ‘sceptical’ big tech could be regulated like banks in digital currency race

Bank of England governor Andrew Bailey has raised the prospect of Threadneedle Street creating its own digital currency amid fears it would be difficult to control coins created by the private sector.

As digital payments solutions continue to gain in popularity, many should be regulated given they are fulfilling the "essential public functions" of money, Bailey told a Bloomberg event on 14 September.



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