Rishi Sunak on CBDC.

Under the UK’s presidency, the G7 announced that it is launching a set of public policy principles for retail, Central Bank Digital Currencies (CBDCs).

The new UK Prime Minister, Rishi Sunak, issued support and a new focus on the cryptocurrency sector Monday, as shared by Bitcoin Magazine.

He explained that the Central Bank digital currencies could be a digital version of money, a bit like a digital banknote that could be used alongside physical notes and coins.

Unlike most of the digital money people use daily today, it would be issued directly by a central bank like The Bank of England in the UK.