The United Kingdom is Researching CBDC and also Drafting Regulations for Stablecoins

News • 2020/11/10 • tarafından

A proposal is currently in view from the UK treasury department to check and regulate private stablecoin.

There are also in the research phase for central bank digital currencies to serve as an alternative to physical cash. The treasury chancellor of the United Kingdom revealed their plans on the 9th of November and discussed other UK goals for the finance world.

Major updates

England’s central bank and treasury are researching CBDC.

The UK treasury department wants to review the UK listing regime.

Stablecoin to face the same scrutiny as existing payment providers.

This news is coming during the week when negotiations are going between UK and EU over how trades will be made post-Brexit. This is a new phase for the UK financial service, and it is a big way to make the market regulated.

The regulation to treat stablecoins as existing payment methods has been in the plan since Facebook announced that Libra would be launched.

**What do you think about the UK’s research on CBDC and the regulation of stablecoins? **Share your thoughts.

Yorumlar (5)

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godgrace1

6 yıl önce

Since, regulations are being stipulated for the use of stable coins, it shows that they have finally released the importance of stable coins and crypto currency. That's why wider adoption is spreading like a wild fire, Which is very nice.

exodusab

6 yıl önce

The Treasury Department of the United Kingdom has revealed it is drafting proposals to regulate private stablecoins while also researching central bank digital currencies, or CBDCs, as an alternative to cash. In an announcement published on Nov. 9, U.K. Treasury Chancellor Rishi Sunak noted the forthcoming regulatory proposals alongside other goals for the country’s financial services industry — including a review of the U.K.’s listings regime and support for green finance.