Category: Bank of England

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

Speculation creates congestion on the blockchain that harms a cryptocurrency’s utility and overall value, a senior economist at the Bank of England (BoE) has said. Peter Zimmerman, who has been a senior economist at the U.K. central bank since...

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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. That’s because stablecoins may seek to operate outside of the existing financial infrastructure...

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6 Central Banks Form Digital Currency Use Case Working Group

Six central banks have formed a working group with the Bank of International Settlements (BIS) to share findings as each investigates potential cases for central bank digital currencies (CBDCs). The group will be comprised of the central banks of...

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