UK Parliament Considers Effects of Blockchain on Bank Solvency
A UK Parliament discussion of a bill relating to financial services regulation has raised questions about how bank liquidity and solvency should be monitored in the face of new technologies such as blockchain. Introduced in 2015, the “Bank of England and Financial Services Bill” aims to reassess how the central bank should be organized to exercise its mandate on the issue. Of interest during an 11th February meeting was a clause relating to the handling of prudential regulation, or laws that attempt to ensure that domestic financial institutions are financially healthy and able to....
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The Monetary Authority of Singapore (MAS) has told Parliament that the central bank is considering imposing additional restrictions on cryptocurrency trading. They include “placing limits on retail participation, and rules on the use of leverage when transacting in cryptocurrencies.”
MAS Considers New Restrictions on Crypto Trading
Tharman Shanmugaratnam, the minister in charge of the Monetary Authority of Singapore (MAS), answered a parliamentary question about the regulation of cryptocurrency Monday.
Murali Pillai, a member of the Singapore Parliament,....
The focus on blockchain technology and distributed ledgers have not gone by unnoticed, as the European Parliament will be hosting a four-day conference on digital currency and blockchains next week. Quite an interesting announcement, and perhaps even a hint as to what is to come regarding regulation in the EU over the coming years. European Parliament Blockchain and Bitcoin Conference. It is important to note this four-day event will not be held like most traditional conferences touching upon the subject of digital currency. Instead, the plan is for the European Parliament to bring....
In early December there was a mention of members in the Swiss Parliament wanting to treat bitcoin as a foreign currency. In that article, we wrote, "Forty-five members of the Swiss parliament have agreed to sign a postulate that considers bitcoin a foreign currency." Now, the Swiss Parliament is gearing up to vote on proposals that treat the digital currency as such. According to Finextra, "If approved by Parliament, the questions will be posed to the Swiss executive arm of government, the Federal Council for judgment." Approval from high office could set an example to other governments,....
Over the course of next week, the European Parliament will host a four-day conference in an effort to educate members of the European Parliament about distributed ledgers and virtual currencies. A non-commercial conference organized next week by the European Parliament is being put together to educate Members of European Parliament (MEPs) about the rapidly expanding and publicized fintech space. The conference and exhibition will specifically be focusing on blockchain and virtual currencies. As reported by Finextra, the conference will see representatives from the likes of the World Bank,....
While bitcoin has had the history of being seen as a voucher in the United Kingdom and a hobby in places like China, Switzerland is taking a much difference approach. Forty-five members of the Swiss parliament have agreed to sign a postulate that considers bitcoin a foreign currency (that effectively puts the cryptocurrency in the same boat as the United States dollar or the Chinese yuan). This postulate is also the beginning of research into what kinds of opportunities bitcoin can hold for Swiss finance. According to this post on Bitcointalk, "The next formal step is for the Swiss....