Why cryptocurrencies may remain merely a bit on the side

Wise Bank of England heads are pondering the case for a state-run digital currency this week. But do we really need one?

When Google announced that bitcoin traders would be allowed to buy advertising space on its pages from August, central banks were alerted to the next likely surge in publicity for cryptocurrencies.

The increasing activity around digital currencies has not gone unnoticed at the Bank of England, and on 7 June Threadneedle Street's brightest will publish a consultation document, setting out how a publicly operated electronic coinage system - one that would rival bitcoin - might work.