Global central banks could adopt cryptocurrencies, Business & Economy News

Last year Facebook announced its digital currency – Libra – which seen as a savvy business move, but American lawmakers raised red flags over the entire project.

However, the Bank of England has different ideas – they might end up embracing cryptocurrency.

From being hailed as the future of money to being snubbed and barred, the cryptocurrency has faced the entire spectrum.

But now it could find more legitimacy than ever before because of some of the world’s largest central banks.  

Right after Facebook revealed its plans, the European central bank expressed an interest. China too has been busy readying plans for a state-backed cryptocurrency.

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And now the Bank of England has created an international group for it. The central banks of Japan, Sweden, Switzerland and the Eurozone have joined the initiative along with the bank of international settlements.

This new group will be co-chaired by ECB board member Benoit course and Bank of England Deputy…