New FCA Discussion Paper Outlines Future of UK Cryptoasset Regulation
The Financial Conduct Authority (FCA) has released a discussion paper titled “Regulating Cryptoassets: Admissions & Disclosures and Market Abuse Regime for Cryptoassets“, detailing its proposed approach to regulating the growing cryptoasset market. This initiative forms part of a broader effort by the government to introduce a comprehensive financial services regime for cryptoassets, bringing these activities […]
University of Cambridge Publish New Report on Wholesale Central Bank Digital Currencies
The University of Cambridge has released a new report, Wholesale Central Bank Digital Currencies: Approaches, Implementation Strategies and Use Cases, authored by Keith Bear, Hatim Hussain, Polina Vertext, Hugo Coelho, and Bryan Zhang. Drawing from extensive research, consultations with industry stakeholders, and interviews with regulators, the report delves into the key motivations, models, and policy […]
The Bank of England’s New Paper Explores the Role of a CBDC in a Digital Economy
The Bank of England has published a new paper titled “The Role of Central Bank Digital Currency in an Increasingly Digital Economy“. The paper examines the potential benefits and implications of introducing an unremunerated retail central bank digital currency (CBDC) against the backdrop of declining cash usage and growing online transactions in the UK. The […]
Manchester University’s Centre of FinTech Studies Partners with the Digital Pound Foundation
We are pleased to announce that Manchester University’s Centre of Financial Technology (FinTech) Studies has joined the Digital Pound Foundation (DPF) as a strategic partner. The Centre of FinTech Studies is a Knowledge and Research hub set up by the Alliance Manchester Business School in 2022 to explore digital advancements in finance. It collaborates with […]
Putin Backs Bitcoin as Russia Advances Digital Asset Taxes and Mining Growth
Russian President Vladimir Putin has signed a law classifying digital assets as property for taxation purposes, offering much-needed clarity to Russia’s burgeoning digital sector. This legislation, which amends Russia’s Tax Code, exempts profits in the sector from value-added tax while subjecting them to income tax. Individual earnings below 2.4 million roubles will be taxed at […]
The Digital Pound Foundation to join the Innovate Finance community to drive forward the UK’s vision for digital money
Innovate Finance, the industry body for and voice of UK FinTech, and the Digital Pound Foundation (DPF) have agreed to join forces, recognising the increasing impact of public debates on new forms of digital money. By bringing the DPF within the Innovate Finance community, the two organisations will advance a shared vision for developing the […]
Central Bank Coalition Share Legal and System Design Considerations of Retail CBDCs
A coalition of seven central banks – the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve Board of Governors, Sveriges Riksbank, and the Swiss National Bank – in collaboration with the Bank for International Settlements (BIS), has been examining key aspects of central bank digital […]
European Central Bank Releases Key Updates on Digital Euro Preparatory Work
The European Central Bank (ECB) has released its second progress report on the digital euro preparation phase, which began on 1 November 2023. This phase aims to establish the foundations for a potential digital euro and has made significant strides since the initial report. One of the key developments has been the revision of the […]
Tether to Phase Out Support for Euro-Pegged Stablecoin EURt
Tether, the company behind USDt (USDT), the world’s leading stablecoin by market capitalisation, has announced the discontinuation of its euro-backed stablecoin, EURt. The firm is advising users to redeem their EURt holdings within the next year. In a statement issued on 27 November, Tether confirmed it will no longer support EURt on any blockchain, ceasing […]
Former Binance Executives Launching MiCA-Compliant Euro Stablecoin Within Two Weeks
As the Markets in Crypto-Assets Regulation (MiCA) approaches its final enforcement deadline later this year, Europe is set to welcome a new euro-backed stablecoin to the digital currency landscape. Schuman Financial, a recently established cryptocurrency firm founded by former Binance executives Martin Bruncko and Eduardo Morrison, has announced its launch, unveiling its inaugural product, the […]
