Cryptocurrency Analysis and News Portal
Cunliffe said there had been general support for the CBDC's overall model, but that the central bank will refine estimates of take-up and holding limits. It previously proposed that individuals wouldn't be able to hold more than 10,000 ($12,000) to 20,000 pounds of the CBDC, at least during an introductory
Read More
“Distributed ledger technology suffers with some real challenges on scalability,” Cunliffe said, with any system needing to be secure and fast. “On the retail side of it, we put in 30,000 transactions per second as a base case, going to 100,000. I don't think you can find any distributed ledger
Read More
Bank of England Deputy Governor Sir Jon Cunliffe has revealed that the British central bank is planning to step up its efforts to regulate cryptocurrency trading with new laws. “We should think about regulation before it becomes integrated with the financial system and before we could have a potential systemic
Read More
"Over the past few days, I have had a few comments both to the effect that the collapse of FTX shows that we need to get on and issue a digitally native pound – and to the effect that FTX shows that we do not need do so," Cunliffe said
Read More
Cunliffe highlighted the opportunities of using DLT technology for trade and post-trade settlements, which encapsulates all the processes that follow a trade. For instance, DLT allows both equities and debt instruments to be combined in a single ledger and facilitate instant trades. Smart contracts, which are programmable to execute different
Read More
Bank of England’s deputy governor for financial stability, Sir Jon Cunliffe, has warned that cryptocurrencies are “very vulnerable to sentiment and prone to collapse.” He urged regulators to “get on with the job” and regulate crypto under the principle of “same risk, same regulatory outcome.” Bank of England’s Cunliffe on Crypto
Read More
Speaking at the Qatar Centre for Global Banking and Finance’s annual conference, Cunliffe said recent events have delayed plans a bit. He’s likely referring to the last 24 hours, when Treasury chief Rishi Sunak and senior Treasury official Jon Glen resigned from their roles in Prime Minister Boris Johnson’s government.
Read More
“Margin is there to protect against counterparty credit risk,” said Cunliffe, who has led international work on stablecoin standards. “If the transaction happens in a nanosecond, then you have a nanosecond’s worth of counterparty credit risk.” Source
Read More