The agencies released discussion papers relating to stablecoin regulation and custody in November.
Bank of England News
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In response to a consultation paper on a U.K. CBDC, the bank and HM Treasury said they had not decided to launch a digital pound but intended to “protect access to cash.”
7426Digital currencies were a topic of interest at the latest U.K. Parliament Treasury Committee meeting. Enthusiasm for them, however, was muted.
15084A U.K. parliamentary committee fears an official launch would demand significant investment and that the benefits may not outweigh the risks.
7566It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking.
6693Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE.
2066The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Authority.
3583A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.
3443The U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownership.
4825The underpinning technology for the U.K.’s CBDC could use an alternative to blockchain technology.
12723A major study between the Bank for International Settlements and the Bank of England found that a retail central bank digital currency could make peer-to-peer payments cheaper and easier.
8827The Bank for International Settlements has published the fifth paper by the group, highlighting its latest thinking on a potential retail CBDC.
4622At 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.
3805The insights of Project Meridian would be used by the Bank of England in its real-time gross settlement system.
35276BoE deputy governor Sir Jon Cunliffe looked at stablecoins, CBDC and other forms of tokenization taking hold in the modern economy in a speech on financial innovation.
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