Central bank digital currencies are a long way from becoming reality — unless you’re in China

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But even if it decides to push ahead with the proposed digital currency, which has been dubbed "Britcoin," its unlikely to arrive until at least 2025, the BOE said. Anne Boden, CEO of London-based digital bank Starling, said a key question thats still not been answered is which problem Britcoin is trying to solve. Boden is one of several industry executives providing input to U.K. officials as they explore CBDCs. Rising interest in bitcoin and other cryptocurrencies has reignited central banks ambitions to develop their own digital currencies lately. Sweden, which was early to the CBDC game, says it hopes to have a digital version of its krona by 2026.

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