Working Paper Series: Towards the holy grail of cross-border payments
Original Source: ECB Abstract The holy grail of cross-border payments is a solution allowing cross-border payments to be immediate, cheap, universal, and settled in a secure settlement medium. The search for such a solution is as old as international commerce and the implied need to pay. This paper describes current visions how to eventually find […]
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 […]
ECB consults experts over ‘privacy-enhancing’ digital euro tech
Original Source: Global Government Fintech The European Central Bank (ECB) has invited external experts to participate in a short series of technical deliberations on data privacy-related challenges involved in designing a digital euro. Talks are set to focus on the ‘large-scale application of privacy-enhancing technologies in settlement of retail payments’, according to a short ECB online […]
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 […]
CBDCs: The Future of Fiat
Original Source: Ripple A visualization from Ripple’s New Value Report suggests the potential for central bank digital currencies (CBDCs) has generated an overwhelming consensus among financial institutions. The new infographic highlights CBDC-specific takeaways from survey questions asked of 1,600 finance leaders around the world. Financial Inclusion More than 70% of respondents surveyed across five global regions believe […]
Commercial models of a potential UK retail 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 significant […]
