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The Bank of England and the U.K. Treasury will begin a consultation next year to assess the case for a central bank digital currency (CBDC).Should it conclude that there is a case for a digital pound, the earliest that one could be rolled out is the second half of the
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Bitcoin expert Max Keiser has said that the Bank of England (BoE) will scramble to buy Bitcoin before the digital asset trades at $1 million. His comments come after Bank of England’s deputy governor for financial stability, Jon Cunliffe, warned that cryptocurrencies could spark a global financial crisis unless tough regulations are introduced.
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Cunliffe said that because the crypto industry is growing rapidly and beginning to connect to the traditional financial system, with the emergence of leveraged players and in a mostly unregulated space, systemic risks, while limited now, could grow very quickly. Source
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John Culifferthe, Bank of England’s Deputy Governor, discouraged crypto’s use in the UK’s finance system. He announced earlier that although cryptocurrencies are becoming more supported within United Kingdom’s financial system, they aren’t a significant threat. However, he also recommended that enhanced regulations should be enforced as digital currencies constantly expand. Related Reading
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
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The United Kingdom’s central bank is ramping up its research into a central bank digital currency (CBDC) with the selection of a long list of banking and fintech experts to assist it.On Sept. 29 the Bank of England announced the membership of its CBDC Engagement and Technology Forums and they
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Representatives from HSBC, Mastercard, Morgan Stanley, Standard Chartered and Visa are all included on the engagement forum, as is Anne Boden, founder and CEO of digital bank Starling, and Christian Catalini, chief economist for the Facebook-backed Diem Association. Source
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In 2021, Forbes magazine published a ranking of the 100 richest people in Ukraine and the 59th place was taken by the crypto entrepreneur from Kharkov, Mykola Udianskyi. His fortune according to the magazine is estimated at $ 180 million. He was one of the first crypto investors in the
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One crypto user is seemingly taking exception to current monetary policy from the Bank of England, or BoE, and expressing their frustration with a laser projector.Reported by Twitter user Dominic Frisby, an unknown person projected “Bitcoin fixes this” and other messages on the exterior walls of both the BoE and
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The leader in blockchain news, CryptoX is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CryptoX is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source
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