Regulated Liabilities and the Future of Digital Money | Poundcast Episode 2
Description In this episode, host Jannah Patchay, Policy Lead and one of the originating members of the Digital Pound Foundation speaks to Tony McLaughlin, Managing Director of Emerging Payments and Business Development at Citibank. Jannah and Tony have a wide-ranging discussion on what would make a digital Pound a foundation for innovation and what attributes […]
UK Crypto Industry Welcomes New Stablecoin Rules, Awaits Guidance
Original Source: Coindesk Crypto advocates in the U.K. have largely welcomed a new bill that could bring digital assets like stablecoins into the scope of local payments regulation. But there’s uncertainty about how the new rules will look like, should the bill pass. The bill is scheduled to be debated in Parliament for the first […]
Bank of England: Minutes of the CBDC Engagement Forum (July 2022)
Original Source: Bank of England Minutes Date: 1 July 2022 Item 1: Welcome Co-chairs Gwyneth Nurse and Jon Cunliffe welcomed Members to the fourth meeting of the CBDC Engagement Forum. Item 2: Debrief of the last Technology Forum The Bank of England provided a brief summary of the June Technology Forum meeting Item 3: CBDC Payment […]
Response to HMT Consultation: Managing the Failure of Systemic Digital Settlement Asset (including Stablecoin) firms
The Digital Pound Foundation takes pleasure in responding to this consultation. The DPF is supportive of the UK government’s commitment to place the UK’s financial services sector at the forefront of cryptoasset technology and innovation, and to take a staged and proportionate approach to cryptoasset regulation, which is sensitive to risks posed and responsive to […]
Law Commission for England and Wales proposes reforms for digital assets
Original Source: Cointelegraph The Law Commission of England and Wales is proposing a number of law reforms to provide wider recognition and legal protections for cryptocurrency and digital asset users. The institution is reviewing existing legislation on digital assets at the request of the British government in an effort to accommodate the space as it continues to […]
Designing interoperability for a potential UK CBDC
Original Source: UK Finance The Bank of England (the Bank) and HM Treasury are currently considering whether the introduction of a UK retail central bank digital currency (CBDC) would be beneficial for the UK economy and the continued integrity of pound sterling in light of increasing use of digital money. This decision could have a […]
Barclays to host CBDC hackathon
Original Source: Finextra Speaking exclusively with Finextra, Barclays has announced it will host the ‘Barclays CBDC Hackathon 2022’ later this year, to promote the emergence of new technologies in large-scale banks. The hackathon will run on the 27th and 28th of September, and will consist of a series of coding challenges that will simulate the use of […]
UK Regulators to Introduce Rules for Stablecoins in New Markets Bill
Original Source: Coindesk Regulators in the U.K. are introducing rules for using stablecoins – cryptocurrencies whose prices are pegged to another asset – as payment tools to the country’s parliament on Wednesday. The rules are part of a long-awaited financial services and markets bill, aimed at strengthening the U.K. financial system post-Brexit, set to be […]
UK Finance Chief Executive responds to the Chancellor’s Mansion House speech
Responding to Chancellor Nadhim Zahawi’s speech at Mansion House, David Postings, Chief Executive of UK Finance, said: “The Chancellor’s vision in his Mansion House speech is for the UK to have a strong and internationally competitive banking and finance sector, which we strongly welcome. A successful financial services sector is critical for achieving economic growth […]
Digital Asset Series 2022: Navigating CBDC Unknowns
Original Source: Finextra Key trends currently driving CBDC discussions across the globe. The global pandemic and the emergence of cryptocurrencies and stablecoins have accelerated the work on CBDCs. While some nations are further ahead in their CBDC timelines than others, the UK, US and Europe (among many more) are treading carefully, paying careful attention not […]
