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According to local media reports, the Reserve Bank of India has repatriated 100 tonnes of gold that was held in the vaults of the Bank of England. The operation, carried out in special circumstances due to the quantity of gold moved, may be repeated as India seeks to hold more gold domestically for logistical reasons … Read more
The U.K. Parliamentary Committee fears that an official launch will demand a significant investment, adding that “It is not clear to us at this stage whether the benefits are likely to outweigh these risks.” Go to Source
It’s not expected to come into force until 2025, but new publications from the FCA and BOE shed light on regulators’ thinking. Go to Source
Sir Jon Cunliffe looks at payment solutions of the past and future in his last speech as deputy governor of the BOE. Go to Source
The United Kingdom government could rebalance the power between the central bank of the country, Bank of England (BoE) and the principal financial regulator, the Financial Conduct Authority, in a former’s favor. Go to Source
A retail CBDC or “enhanced” digital money would support the singleness of money and settlement finality, Andrew Bailey said, but crypto isn’t money. Go to Source Powered by WPeMatico
The underpinning technology for the UK CBDC could use a different ledger than the popular blockchain technology. Go to Source Powered by WPeMatico
The Bank for International Settlements has published the fifth paper by the group, highlighting its latest thinking on a potential retail CBDC. Go to Source Powered by WPeMatico
At a recent event, Tom Mutton, the Bank of England’s head of fintech, touted the privacy benefits of CBDCs while denouncing the anonymity of cryptocurrencies. Go to Source Powered by WPeMatico
Prices of gold, and other precious metals, fell on Wednesday due to stronger U.S. yields and national currency. The decline comes on the backdrop of expectations of new interest rate increases next month amid persistent inflation in the United States and elsewhere. Gold and Silver Slip as Investors Bet on Another Rate Hike in May … Read more
