Bank of England

Markets

Speculation Undermines Crypto Prices and Utility, Says Bank of England Senior Economist

Speculation clogs up blockchains, making them harder to use and ultimately less valuable, a working paper suggests.

Markets  ·  17 February 2020
Regulation

Bank of England’s Stablecoin Ruling Targets Financial Stability, Exec Says

Financial stability was a key factor in the Bank of England's decision to hold stablecoin payment systems to the same regulatory standards as existing payment chains.

Policy & regulation  ·  27 January 2020
Bank of England

6 Central Banks Form Digital Currency Use Case Working Group

The working group will pool research into CBDCs.

News  ·  21 January 2020
Europe

Bank of England Sets Out Rules for Libra Launch in the UK

The central bank has finalized principles the Facebook-led cryptocurrency project must adopt before a U.K. launch.

Policy & regulation  ·  9 October 2019
Regulation

‘No Argument’ for Replacing Dollar’s Global Role With Crypto: Ex-Fed Official

The ex-official pushed back at a suggestion from the chief of the Bank of England that a Libra-like crypto should replace USD in global markets.

Policy & regulation  ·  26 September 2019
Facebook

Bank of England Governor Says Facebook’s Libra Crypto Will Be Scrutinized

Facebook's Libra cryptocurrency could be subject to the "highest standards" in global regulations, said Bank of England governor Mark Carney.

Markets  ·  19 June 2019
Bank of England

UK Central Bank Says New Payments System Will Be Blockchain Friendly

The Bank of England confirmed it is going to update its Real-Time Gross Settlement system to potentially interact with blockchain-based forms.

Policy & regulation  ·  24 July 2018
Europe

Bank of England Warns Finance Firms Over Crypto Risks

A Bank of England official has warned banks and other financial firms about exposure to cryptocurrency-related assets in a letter.

Policy & regulation  ·  28 June 2018
Federal Reserve

Central Banks Will Jump-Start the Decentralization of Money

While the thought may disappoint cypherpunks, the first step of a transition toward a true "money of the people" will be implemented by central banks.

Policy & regulation  ·  19 June 2018
Europe

Bank of England Eyes Private Blockchain Oversight

The Bank of England is examining how to maintain data privacy over a DLT network while still allowing a regulatory window into transactions.

Policy & regulation  ·  11 April 2018
Banking

Bank of England to Test DLT Use in New Settlement System

The Bank of England has launched a proof of concept that will explore DLT-compatibility with its real time gross settlement service.

Business  ·  27 March 2018
Bitcoin

UK Government Announces New Cryptocurrency Research Effort

The U.K. government will launch new research aimed to explore the potential risks posed by cryptocurrencies, a minister has said.

Policy & regulation  ·  19 March 2018
Regulation

Carney On Eve of G20: Cryptos Don’t Pose Risks to Financial Stability

A group of central bank regulators and government ministers said Sunday that cryptocurrencies don't pose a risk to global financial stability.

Policy & regulation  ·  19 March 2018
Europe

UK Central Bank to Clamp Down on Crypto Money Laundering

The head of the Bank of England has said that the institution will step up its efforts to combat cryptocurrency money laundering.

Policy & regulation  ·  2 March 2018
Digital Currency

Bank of England Has ‘No Plans’ to Launch Cryptocurrency

The Bank of England has dropped plans to launch its own digital currency amid concerns about its impact on the financial system.

Markets  ·  5 January 2018