The Bank of England plans to impose a cap on CBDC accounts in the country if a central bank digital currency (CBDC) is introduced.
The Bank of England is a potential digital pound current project not harming the banking system in the name of put a £10,000 cap on digital sterling balances is thinking.
In the document published jointly by the central bank and the Ministry of Finance, “The Central Bank, at least in the initial phase will impose some restrictions on digital sterling balances.” it said.
In this way, the central bank ensure that it does not go beyond the commercial banking system wants.
Commercial banks in the UK are concerned about the central bank’s digital sterling plan.
According to today’s statements by some bank executives, citizens will can make a bank attack by withdrawing the money they hold in commercial banks and their money fully digital sterling they can pass.