Bank of England Governor Still Isn’t a Fan of Bitcoin
While central banks are embracing digital currencies, they still aren’t a fan of Bitcoin and other cryptocurrencies. The
Read More
England
Bank of England governor dismissed Bitcoin as a means of payment
During a virtual conference hosted by the Brookings Institute, Andrew Bailey, Bank of England’s (BoE) governor, stressed that crypto assets are just “unsuited to the world of payments.” In prepared remarks on the future of cryptocurrencies and stablecoins, Bailey qualified Bitcoin (BTC) as an asset that has “no connection at all
Read More
Bank of England to Speak at OMFIF Organized CBDC Meeting
The key focus of the meeting will be to tackle the ways in which blockchain technology can benefit various models for CBDCs.The Bank of England will participate in a historic meeting of Central Banks organized by the Official Monetary and Financial Institutions Forum (OMFIF) on the issue of the CBDC
Read More
Blockchain Firm Pitches CBDC Operating System to Bank of England
United Kingdom-based blockchain firm L3COS has submitted a proposal to the Bank of England, or BoE, for a blockchain-based operating system to power a central bank-issued digital currency, or CBDC.L3COS described the proposal as a response to the consultation document on CBDC published by BoE in March — which identified
Read More
Bank of England Warns Crypto Adoption May Impact Credit Creation
Jon Cuncliffe, the deputy governor for financial stability of the United Kingdom’s central bank, the Bank of England (BoE), has warned that the emergence of a cryptocurrency economy may weaken or eliminate bank credit issuance.In a speech delivered to the London School of Economics on Feb. 28, Cunliffe predicted
Read More
‘Crucial’ for Central Banks to Consider Digital Currencies: Bank of England Exec
The Bank of England's (BoE) chief cashier, Sarah John, has said it is "crucial" that central banks research digital currencies so they can strike a balance with private issuers. John said it was "really important" BoE and other central banks considered whether digital currencies could form the basis of a
Read More
Speculation Undermines Crypto Prices and Utility, Says Bank of England Senior Economist
Speculation creates congestion on the blockchain that harms a cryptocurrency's utility and overall value, a senior economist at the Bank of England (BoE) has said. Peter Zimmerman, who has been a senior economist at the U.K. central bank since 2007, argued in a working paper published Friday that speculation undermines
Read More
Bank of England Governor Suggests Cryptocurrency Could Replace the US Dollar
The U.S dollar is arguably the most popular currency today. Controlled by the most powerful country in the world, the U.S. dollar currently holds a substantial influence over trade across the globe. But according to the Bank of England governor, cryptocurrency might take its place.The governor of the Bank of
Read More