Bank of England News
The Bank of England is one of the main financial authorities and is the central bank of the United Kingdom. The Bank of England is the second-oldest bank in operation and the most influential of them, having served as a role model for other countries’ central banks. There are a lot of services provided by the Bank of England. For example, the Bank of England provides a quarterly inflation report that sums up all the results of monetary policies. The Bank of England is also in charge of economic growth forecasts and some other financial predictions and research. The Bank of England is the custodian of the gold reserves of the United Kingdom and the official gold reserves of around 30 other countries. The Bank of England is the banknote issuer of UK and has a contract with De La Rue plc. – an English banknote manufacturing company that prints all the modern banknotes of the UK.
A U.K. parliamentary committee fears an official launch would demand significant investment and that the benefits may not outweigh the risks.
UK House of Commons recommends further CBDC tests on viability, risks
It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking.
UK stablecoin regulation begins to take shape in multiple FCA, BOE documents
Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE.
Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
The United Kingdom government could rebalance the power between the Bank of England and the country’s principal financial regulator, the Financial Conduct Autho...
Bank of England will get more power in regulating stablecoins
A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money.
BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’
The U.K.’s Law Commission highlights four major recommendations to reform laws relating to cryptocurrency use and ownership.
UK Law Commission recommends ‘distinct’ legal category for crypto
The underpinning technology for the U.K.’s CBDC could use an alternative to blockchain technology.
Digital pound will be pseudonymous with a focus on privacy: BoE CBDC chief