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The two government authorities said they have not yet decided whether to issue a CBDC in the UK but will explore its use cases and risks. They will also evaluate the design features of a CBDC and monitor international CBDC developments to ensure the UK "remains at the forefront of global innovation."
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"Our vision is for a more open, greener, and more technologically advanced financial services sector," said the country’s finance minister Rishi Sunak. "The steps I've outlined today, to boost growing fintechs, push the boundaries of digital finance and make our financial markets more efficient, will propel us forward."
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