Bank of England

The governor of the Bank of England admitted that payment innovations like cryptocurrency, stablecoins, central bank digital currencies (CBDC), etc., have been gaining momentum due to the lockdown.

The Bank of England is exploring the possibility of creating its own digital currency. However, it is unlikely that the project is actually implemented before the next couple of years.

The Bank of England (BoE) has come out to embrace Facebook’s digital currency project Libra despite the recent criticism it has been facing from various financial regulators across the globe.

The Insight Chain (INB), a distributed ledger technology (DLT)-based research chain, recently rolled out a follow-up to the Bank of England’s poll of the best monetary gift at Christmas among the general public.

Bank of England (BoE) has accepted that it wants an improved payment system able and efficient enough to connect with fintechs using blockchain technology.

Mark Carney, the governor of Bank of England proclaimed in his public speech on 21 June that the bank is intending to reconstruct its Real Time Gross Settlement (RTGS) system in order that it can interconnect with cryptocurrency platforms and private business with the help of Distributed Ledger Technology (DLT).

Today’s most important news from the world of Blockchain and crypto currency: Twitter may ban Bitcoin related ads, Bank of England governor Mark Carney stated that crypto currencies don’t pose risk, New Zealand to become a living Blockchain laboratory

A new Cryptoassets Task Force was set up in the UK on March 22, 2018, by the Treasury, Bank of England, and Financial Conduct Authority (FCA) to explore the risks of cryptoassets, the benefits of this technology, and its influence.

Bank of England governor Mark Carney stated in a letter to representatives of the G20 that cryptocurrencies do not pose any possible threat to the financial market. Carney, being a chairman of the Financial Stability Board (FSB), rejected the perspective of putting regulation on digital currencies, such as Bitcoin.