Bank Of England
Bank of England Eases Stablecoin Rules, Targets 2027 Rollout
UK advances stablecoin regulation with new BoE draft rules easing reserve requirements and setting issuance caps, aiming for a 2027 launch.
UK Lords Push BoE to Ease GBP Stablecoin Rules
The UK House of Lords warns strict BoE stablecoin rules risk stifling GBP-pegged token innovation. Recommendations prioritize viability and competitiveness.
Bank of England Eyes Tokenization to Cut Costs Amid Stablecoin Review
BoE explores tokenization to enhance markets, proposing near-24/7 settlement hours while revisiting stablecoin limits to boost UK’s digital asset competitiveness.
UK Eyes Near-24/7 Settlement to Support Tokenization Push
The UK is advancing tokenized finance with near-24/7 settlement plans and regulatory alignment between the FCA and Bank of England.
BoE May Ease Stablecoin Rules Amid Industry Pushback
The Bank of England is reevaluating caps and reserve rules for UK stablecoins after backlash, aiming to balance innovation with financial stability.
UK Extends Stablecoin Regulation Consultation Period, Seeks Inclusive Feedback
The Bank of England and the Financial Conduct Authority have extended the feedback deadline for stablecoin regulation to February 12, aiming for a comprehensive, inclusive regulatory framework.
UK Advancing Towards a Digital Pound: Exploring CBDC Feasibility
The UK's Bank of England (BoE) and HM Treasury are advancing into the second phase of exploring the feasibility of a digital pound, also known as "Britcoin." A final decision is yet to be made, with a focus on user privacy and coexistence with cash.
Bank of England Tests DLT Settlement System
The Bank of England and the BIS Innovation Hub London Center successfully tested a distributed ledger technology-powered settlements system through Project Meridian, which could be extended to other asset classes to reduce time, costs, and risks of transactions.
HSBC approves multi-million-pound bonuses for Silicon Valley Bank UK staff
HSBC UK Bank, which acquired Silicon Valley Bank UK for just one pound, has reportedly approved multi-million-pound bonuses for its staff and senior executives. The bonus pool, totaling between £15m and £20m, was described as "modest" by insiders and was said to be in honor of previously agreed payments and to retain key staff.
Bank of England halts Silicon Valley Bank UK branch operations
The Bank of England has ordered the Silicon Valley Bank's UK branch to halt its operations as it has limited presence and no critical functions supporting the financial system. The bank will be placed into a Bank Insolvency Procedure, and eligible depositors will be paid out by the Financial Services Compensation Scheme up to the protected limit of £85,000, with the remaining assets and liabilities being managed by bank liquidators. UK venture capitalists and a nonprofit organization have expressed concern as several startups and investors have significant exposure to the SVB UK, including prominent blockchain VCs who have over $6 billion in assets at the bank.