UK stablecoin regulation begins to take shape in multiple FCA, BOE documents
It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking. Go to Source
Bank of England
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Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE. Go to Source
Bank of England will get more power in regulating stablecoins
The United Kingdom government could rebalance the power between the central bank of the country, Bank of England (BoE) and the principal financial regulator, the Financial Conduct Authority, in a former’s favor. Go to Source
BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’
A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money. Go to Source Powered by WPeMatico
Digital pound will be pseudonymous with a focus on privacy: BoE CBDC chief
The underpinning technology for the UK CBDC could use a different ledger than the popular blockchain technology. Go to Source Powered by WPeMatico
7 central banks and BIS continue examination of ongoing policy issues for retail CBDC
The Bank for International Settlements has published the fifth paper by the group, highlighting its latest thinking on a potential retail CBDC. Go to Source Powered by WPeMatico
BoE fintech head says crypto doesn’t ‘fulfill any of the functions of money’
At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies. Go to Source Powered by WPeMatico
Gold Slides on Higher US Treasury Yields, Dollar
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May … Read more
BIS, Bank of England concludes blockchain int’l settlements pilot
The insights of Project Meridian would be used by the Bank of England in its Real-Time Gross Settlement (RTGS) system. Go to Source Powered by WPeMatico
Bank of England preparing for greater role of tokenization in finance, official says
BoE deputy governor Sir Jon Cunliffe looked at stablecoin, CBDC and other forms of tokenization taking hold in the modern economy in a speech on financial innovation. Go to Source Powered by WPeMatico
