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UK Chancellor of the Exchequer Rishi Sunak has told the Bank of England (BOE) to look at the case for a potential ‘Britcoin’ or central-bank-backed digital currency.
The UK is reportedly set to take a tough but less bureaucratic approach for banks once Brexit is completed.
Regulators around the world are working on implementing new standards for data collection and reporting. However, could this be a threat to the RegTech industry?
Amerdeep Somal has been named as the new complaints commissioner that will final stage of investigations into complaints against the Financial Conduct Authority (FCA), the Prudential Regulation Authority (PRA) and the Bank of England.
Andrew Bailey, governor at the Bank of England, has called on financial regulators to stop playing catch up in how they supervise digital payments methods such as stablecoin and cryptocurrencies.
Three of the top UK financial industry regulators want to make it easier for businesses to raise their concerns.
FinTechs and other non-bank lenders will not be able to access funding from the Bank of England that would help them deliver emergency loans, which has sparked accusations of the central bank hampering competition.
The Board of the Bank for International Settlements (BIS) is going to open four more BIS Innovation Hub centres across North America and Europe.
Back in March, the Bank of England introduced measures to support banks and financial institutions during the COVID-19 crisis. But now it has signalled that the support is about to end.
A global pandemic sweeping over the globe may have caused the UK to shut down everything but the most essential services, but the Financial Conduct Authority (FCA) still plans businesses to stick to the LIBOR shutdown timetable.