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 […]
FCA Highlights Rising Crypto Ownership as It Outlines Regulatory Plans
The Financial Conduct Authority (FCA) has unveiled its latest research on consumer attitudes and behaviours towards cryptocurrency, revealing a notable increase in UK crypto ownership. According to the findings, 12% of UK adults now own cryptocurrency, up from 10% in previous years, while awareness of crypto assets has risen slightly from 91% to 93%. This […]
UK Government’s Approach to Tokenisation and Regulation: Keynote Highlights from Tulip Siddiq MP
Tulip Siddiq MP, Economic Secretary to the Treasury, delivered a keynote at this year’s City and Financial Global Tokenisation Summit outlining the UK government’s progressive strategy in embracing tokenisation and digital assets. Her speech underscored the transformative potential of distributed ledger technology (DLT) and reaffirmed the government’s commitment to positioning the UK as a global […]
HM Treasury Aims to Modernise Payments and Drive Innovation with its New National Payments Vision
HM Treasury has announced its National Payments Vision, setting out an ambitious plan to position the UK as a global leader in payments. This strategy aims to strengthen the economy by fostering innovation, enhancing security, and offering consumers and businesses a range of trusted payment options, all underpinned by next-generation technology. In the ministerial foreword, […]
Norway Backs EU Crypto Regulation, Weighs Potential CBDC for Financial Stability
Norges Bank, Norway’s central bank, has voiced its support for the European Union’s Markets in Crypto-Assets (MiCA) regulation while evaluating the potential for a central bank digital currency (CBDC) to enhance cross-border payments and bolster financial stability. As part of the European Economic Area (EEA), Norway aligns closely with EU regulations, including MiCA. Kjetil Watne, […]
From Gen Z to the Elderly: Digital Pound Foundation Workshop Identifies Key Use Cases for a Digital Currency
On 23 September 2024, as part of Currency Research’s Digital Currency Conference, the Digital Pound Foundation (DPF) ran a “hands-on” workshop where participants looked to find the killer use case for a digital currency. Participants from central banks, the IMF, corporates and academia sat down to brainstorm why “Anthony’s granny”, the financially excluded/stretched, digitally native […]
BIS Departure from mBridge: A Strategic Exit or a Political Move?
Last week, the Bank for International Settlements (BIS) announced its exit from the mBridge cross-border payments project, a significant initiative in the field of central bank digital currencies (CBDCs). Agustín Carstens, BIS General Manager, confirmed the decision at the Santander International Banking Conference, attributing the move to the project’s progress rather than political pressures or […]
Innovation in Money and Payments: The Digital Pound Foundation’s Response to the Bank of England
The Digital Pound Foundation has responded to the Bank of England’s July 2024 discussion paper on innovation in money and payments (download here), offering insights drawn from its members’ expertise in digital money and central bank digital currency (CBDC) projects. Our response emphasises the foundational role a digital Pound could play in securing the UK’s […]
