Cryptocurrency

City faces cap on ‘Britcoin’ holdings as Bank of England pushes forward with digital pound

Fears that banks could face a run on their deposits lead government to propose a cap on holdings in a digital pound

Threadneedle Street has been laying the ground for a possible Britcoin for several years now
Threadneedle Street has been laying the ground for a possible Britcoin for several years now Photo: Jason Alden/Getty Images

City firms may face limits to how much 'Britcoin' they can hold as the Bank of England pushes forward with a potential digital pound.

Business' and individuals' holdings of a central bank digital currency would be capped — at least in the introductory phase — according to a 6 February consultation.

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