UK stablecoin regulation begins to take shape in multiple FCA, BOE documents
A suite of documents was published in the United Kingdom on Nov. 6 that concern stablecoin regulation. The Financial Conduct Authority (FCA) released a discussion paper, as did the Bank of England (BOE). To accompany those, the BOE’s Prudential Regulatory Authority (PRA) released a letter t ...
Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
The Federal Reserve Board continues to research a central bank digital currency (CBDC), or at least adjacent technologies, vice chair Michael Barr said on Oct. 27. He also touched on stablecoins at the Economics of Payments XII Conference where his English colleague Sir Jon Cunliffe made his last ...
BOE governor trashes crypto, stablecoins in favor of ‘enhanced digital money’
Andrew Bailey, a Bank of England (BOE) governor, delivered a speech July 10 in which he moved smoothly from the central bank’s efforts to control inflation and maintain public trust in financial institutions to why cryptocurrencies are not money. Instead of cryptocurrencies and st ...
UK Law Commission recommends ‘distinct’ legal category for crypto
The United Kingdom’s Law Commission is pushing for the creation of a “distinct” category of personal property to accommodate and protect the unique features of cryptocurrencies and digital assets.The body made the recommendation alongside three other key points following a mandate from the ...
‘Britcoin’ launch inches closer after Project Rosalind CBDC tests
The Bank of England (BoE) is a step closer to launching its central bank digital currency (CBDC) dubbed “Britcoin” following the conclusion of a trial study called Project Rosalind.The Bank for International Settlements and the BoE launched the joint experiment in July 2022 to ...
Gemini Explores UK Expansion Amid Regulatory Uncertainty in the United States
Founders have already met with regulators in England Gemini stresses the uncertainty of regulators in the United States The exchange has no intention of leaving the United States Cryptocurrency company Gemini plans to establish a second UK headquarter ...
Winklevoss Twins Plan to Open Crypto Exchange Gemini Headquarters in UK Due to US Hostility
Tyler and Cameron Winklevoss, the twin brothers who founded the cryptocurrency exchange Gemini, said they plan to open a headquarters in the UK because of U.S. hostility toward cryptocurrencies. Tyler, Cameron Winklevoss said they met with officials from the U.K. Financial ...
Bank of England’s Digital Pound to Preserve User Privacy but Not Offer Anonymity
The Director of Financial Technology Development at the Bank of England said that the digital pound is being created to preserve user privacy but will not be anonymous. Tom Mutton, speaking at the Financial Times conference on digital assets, assured that the central bank h ...
European Banking Authority chairman urges cryptocurrency players to manage risk ahead of stablecoin regulations
Market participants urged to manage risk now Stablecoin regulation is not just in the EU Stablecoin regulations require issuers to have a variety of reserves. Jose Manuel Campa, chairman of the European Banking Authority, urged cryptocurrency players to start ...
Bank of England Governor Discusses Prospects for Central Bank Digital Currencies and Stablecoins
Bank of England Governor, Andrew Bailey, has emphasized the importance of creating a clear legal framework for central bank digital currencies and stablecoins. Bailey stated that central bank digital currencies will become a significant part of the financial system, but they should not replace tr ...