The Bank of England Exhibits Patience with Bitcoin Regulation
The Bank of England is in no hurry to introduce bitcoin regulations as it waits and watches for new developments in the blockchain technology for fintech applications. Bitcoin regulations is a serious business and the governments know that. These regulations are not about parallel economies or money laundering anymore. Bitcoin technology may be the answer for the solutions they were looking for so far to improve their financial sector. The importance of Bitcoin technology in today’s digital world has led the governments and central banks to opt for a wait and watch stance instead of....
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The Bank of England says “extreme volatility” in the crypto market “underscores the need for enhanced regulatory and law enforcement frameworks.” The British central bank has warned that crypto prices could fall further. Bank of England Calls for Enhanced Crypto Regulation The Financial Policy Committee of the British central bank, the Bank of England (BOE), said Tuesday that the “extreme volatility” in crypto prices in recent months underscores vulnerabilities in the crypto market, Bloomberg reported. Citing a $2 trillion reduction in the total....
Bank of England Governor Andrew Bailey says there will be an element of “tough love” in regulating cryptocurrency. “What we cannot have is a world where innovation gets a free pass to ignore the public interest. The odds of such an approach not ending well are too high,” the governor said. Bank of England’s Bailey Wants to Regulate Crypto With ‘Tough Love’ Bank of England Governor Andrew Bailey talked about cryptocurrency regulation Monday at the annual conference of financial trade body The City UK. He was quoted as saying: “We must, both....
Over the past few months, it has become clear how a lot of major financial institutions around the world are looking at how they can implement blockchain technology. Bank of England, United Kingdom’s central bank, has launched a dedicated blockchain career page. But there is a twist, as the BoE is looking for bright ideas, which can eventually lead to a....
The Bank of England has decided to collaborate with MIT regarding the development of a CBDC. The Bank of England is the latest bank that has expressed interest in exploring the scope of a CBDC. This latest partnership is with MIT’s Media Lab’s Digital Currency Initiative, through which BoE seeks to inspect and understand potential […]