BBA, Payments Council Respond to UK 'Call for Information' on Digital Currencies
The BBA, the leading group representing the UK's biggest banks, has issued a response to the government's 'Call for Information' on digital currencies. The request, issued in November last year, set out to provide the government with the necessary information to fully understand digital currencies. The document consisted of 13 questions, ranging from the potential benefits of digital currencies, through to government involvement and new services facilitated by blockchain technology. The request remained open for a month to allow individuals, businesses and other organisations to submit....
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The Payments Council, the organisation that sets strategy for payment mechanisms in the UK, has issued a statement saying that it is "neutral" on bitcoin, though it sees "opportunities" for digital currencies. In response to questions from CoinDesk, the Payments Council said that it had been tracking the progress of digital currencies "with interest", and that bitcoin was one of many "competitive offerings" that are emerging in the UK. The organisation appeared to be relatively positive on the future of digital currencies: "As shopping habits are increasingly moving across borders and....
UK's HM Treasury invites views and evidence on the risks and benefits of digital currencies in a Call for Information. UK's economic and finance ministry, the HM Treasury, announced on November 3, it was holding a public Call for Information on digital currencies. The organization will be gathering views and opinions on the advantages and the risks involved in dealing with digital currencies, in order to decide "whether [the government] should take action to support innovation in this area," while "examining the risks presented by digital currencies, and assessing whether action is....
The UK Treasury has issued a 'Call for Information' on digital currencies in order to weigh the risks and benefits offered by the new technology. The request is intended to provide the government with the information necessary to fully understand digital currencies, as well as to solicit feedback and opinion from all interested parties. The Call for Information will be open for one month to allow individuals, businesses and other organisations to submit their comments on a wide range of issues. The document asks 13 questions, ranging from basic information on the potential benefits of....
The United Kingdom Treasury's public call for information on digital currencies closed yesterday, after a 31-day consultation period. The Treasury issued the call on 3rd November after the Chancellor of the Exchequer said in the summer that a "major programme of work" would be launched around researching digital currencies and associated technologies. Now, the UK Digital Currency Association and several companies in the industry have published their responses to the Treasury's call. The UKDCA's 46-page response underlines the fact that digital currencies should be treated as a 'financial....
In March, after receiving more than 120 replies to a call for information on digital currencies, the U. K. government released a Treasury document titled "Digital Currencies: Response to the Call for Information," which summarizes the submissions received and outlines the government's views and proposed next steps. In particular, the government is launching a £10 million (U. S. $14.6 million) research initiative on digital currencies. One of the replies to the U. K. government call for information came from the global bank Citi. The bank is persuaded that digital money adoption is....