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'Digital sterling' needs to fight financial crime while safeguarding privacy, BOE fintech lead says

By Fiona Maxwell ( June 17, 2021, 14:48 GMT | Insight) -- The creation of central bank digital money in the UK will need to strike the right balance between user privacy and the fight against financial crime with greater transparency, the Bank of England’s director of fintech Tom Mutton said today. Fintech companies and individuals have expressed concerns that private information could be at risk if the "digital sterling" project goes ahead.The creation of central bank digital money will need to strike the right balance between user privacy and the opportunity to fight financial crime with greater transparency, the Bank of England’s director of fintech said today....

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