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The UK is setting new regulations for stablecoins and the wider cryptocurrency market, aiming to enhance financial stability and consumer protection while fostering innovation. The Bank of England (BOE), working with the Financial Conduct Authority (FCA), is rolling out a plan to manage the stablecoin market—cryptocurrencies that are usually tied to
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The market expects the UK’s apex bank to hold off on increasing or decreasing interest rates even as economic data is falling. The Bank of England (BoE) is expected to hold UK interest rates on Thursday due to recorded price pressures and a decline in economic activity. At the moment, the
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The UK Chancellor of the Exchequer Jeremy Hunt is optimistic that inflation would ease. UK inflation came in for September at 6.7%, higher than expectations set by analysts. Also, inflation in the UK remained unchanged from August. While inflation remained unaltered, the UK’s headline consumer price index (CPI) met expectations from economists
Read MoreThe Bank of England has halted its 14 consecutive interest rate hikes, keeping rates at 5.25% due to moderating inflation. Despite this, the economy remains precarious. The Bank of England has decided to end a streak of 14 consecutive interest rate hikes, keeping them at 5.25%, following data showing a moderation
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"Crypto is an asset that has no intrinsic value, whose price could go to zero and therefore investors should be prepared to lose all of their money," Breeden said. "That megaphone about the risks in it has been consistent and very clear. However, that technology, I think has got the
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of England (BoE) and HM Treasury issued a call for interest, seeking academic experts to join a new advisory group focused on central bank digital currencies (CBDCs). The CBDC Academic Advisory Group will provide guidance
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The bank along with the Treasury – the government's finance arm, which has been helping with the country's CBDC work – wants academics and researchers to express their interest in joining the group. A CBDC is digital money issued by a central bank. The Academic Advisory Group is meant to
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The United Kingdom government could rebalance the power between the Bank of England (BoE) and the country’s principal financial regulator, the Financial Conduct Authority (FCA), in the former’s favor, according to a 40-page consultation response published by His Majesty’s Treasury on Aug. 7. The British government launched the consultation under the headline
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The consultation set out that systemic stablecoins would be supervised by both the BoE and Financial Conduct Authority (FCA), which was welcomed by respondents. Respondents and the government also supported extending the accountability framework (which evaluates whether the regulators approach is future proof) to systemic stablecoins. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Bank of England (BoE) has released a new paper that explores the use of Ripple’s Interledger Protocol for synchronized settlement of payments. The new step taken by the Bank of England shows the increasing interest of
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