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Central bank digital currencies: Everything you need to know, explained

As central banks around the world mull over the benefits of launching their own digital currencies, what are they, and why might they matter?

Digital currencies completely cut out the role of commercial banks, the government, and central banks in the exchange of money between individuals
Digital currencies completely cut out the role of commercial banks, the government, and central banks in the exchange of money between individuals Photo: Getty Images

The Bank of England and other central banks are asking themselves whether they should create their own digital currencies. Here’s the Financial News guide to the issues they need to consider and the background to the debate.

What is a digital currency?

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