Report, conducted with MIT, says cryptographic techniques would not guarantee privacy
A report by the Bank of England and the Massachusetts Institute of Technology says the cryptographic techniques on central bank digital currencies (CBDCs) make the digital pound “increasingly feasible”. However, anti-money laundering and countering the financing of terrorism (AML/CFT) requirements mean it would not be as private as cash, which does not record details of the sender, recipient or amount.
Privacy is key to public acceptance of the new form of money. The report, published on December
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