Five industry bodies form new UK Forum for Digital Currencies

Five organizations have joined forces to create the UK Forum for Digital Currencies (UK FDC) in order to guide the future of digital currency in the United Kingdom. The alliance will emphasize the importance of progress and teamwork in the payments sector.

The participating associations include the City of London Corporation, Digital Pound Foundation, The Payments Association, TheCityUK, and UK Finance. The goal of the alliance is to create improved policies, processes, and regulations concerning digital currencies.

In April of last year, UK Prime Minister Rishi Sunak announced plans to make post-Brexit UK a leading “crypto hub”. As well as this, the UK is reportedly in the process of finalizing a suite of crypto regulations.

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The Digital Pound Foundation also recently reported that the Bank of England (BoE) is advancing research into the technical aspects of a central bank digital currency (CBDC).