Can Bitcoin price break out after Bank of England interest rate cut?
This marks the bank’s first interest rate cut in over four years, with the last rate cut occurring in March 2020. Go to Source
Bank of England
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BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring
The proof-of-concept showed that real-time monitoring of stablecoin reserves could be achieved with cooperation among regulators, technologists and issuers. Go to Source
England’s Law Commission proposes new property category for crypto assets
The Law Commission’s final report advocates for legal reforms to better protect the unique features of digital assets. Go to Source
Bank of England Pushes for Swift Digital Payment Solutions as Cash Usage Drops
The Bank of England (BOE) is urging UK banks to expedite their digital payment solutions as cash use declines. The BOE’s recent paper highlights the need for innovations that allow direct payments from bank accounts, bypassing credit and debit cards, to save time and costs for consumers and retailers. The British central bank is developing … Read more
Bank of England to experiment with wholesale CBDC, synchronization
The BOE is considering applying DLT to its existing settlement system and introducing a wCBDC. Go to Source
India Repatriates 100 Tonnes of Gold From UK, Aims to Move More
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
UK House of Commons recommends further CBDC tests on viability, risks
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
UK stablecoin regulation begins to take shape in multiple FCA, BOE documents
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
Fed, BOE officials share continuing interest in CBDCs, stablecoin regulation
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
Bank of England will get more power in regulating stablecoins
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