Britons would be limited to 20,000 digital pounds ($24,000) each if the country goes ahead with a digital currency, Bank of England Deputy Governor Jon Cunliffe said on Tuesday.
Money above the cap would be "swept" into a customer's commercial bank account given that a digital pound would not be a means for storing wealth, he told members of UK Finance, a banking industry body.
"At the other end, you could say I need a little wallet full of internet cash to buy things on Amazon," Cunliffe added. Central banks across the world are studying digital currencies, with the European Union due to publish a draft law in May setting out a legal framework for a potential digital euro.European Central BankBurkhard Balz, executive board member of Germany's Bundesbank, told a conference on Tuesday that a key aspect to be decided is whether a digital euro would have legal tender status, meaning it could be used to settle a debt in court.
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