This articles provides some insights on the direction of travel in the UK in relation to distributed ledger technology (DLT) and digital assets, in light of recent legislative and policy developments that signal the UK’s...more
From the use of metal coins to the dematerialization of money, the advent of distributed ledger technology (DLT) and tokenisation arguably represents the next stage in the evolution of money and the payments ecosystem. As...more
The BIS Innovation Summit 2024, which took place over 6-8 May 2024, was in turns both an inspiring and surprising event. This article sets out a summary of the key takeaways from the summit....more
2023 has been a defining year for digital assets and blockchain, with a number of jurisdictions publishing new regulatory frameworks, cementing the importance of digital assets and blockchain into legislation.
As the...more
The European Central Bank (ECB) has just kicked off an “investigation phase” to explore different options for the digital Euro. This phase of detailed consideration for a European version of a Central Bank Digital Currency...more
Six banks have announced that they will work together to assess whether creating central bank digital currencies (CBDCs) is worth it. The group will review use cases, economic, functional and technical design choices, and the...more
2/6/2020
/ Banks ,
Bitcoin ,
Blockchain ,
Committee on Payments and Market Infrastructure (CPMI) ,
Cross-Border Transactions ,
Cryptocurrency ,
Digital Currency ,
Emerging Technologies ,
FSB ,
Regulatory Oversight ,
Virtual Currency
The UK Financial Conduct Authority (FCA) has become the anti-money laundering and countering the financing of terrorism (AML/CFT) supervisor for some types of cryptoasset businesses. These will need to meet certain...more
1/21/2020
/ AML/CFT ,
Anti-Money Laundering ,
Covered Transactions ,
Cryptoassets ,
Due Diligence ,
E-Money ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Financial Services Industry ,
Know Your Customers ,
Lead Supervisory Authority ,
Money Laundering ,
Payment Methods ,
Popular ,
Regulatory Oversight ,
Regulatory Requirements ,
Risk Assessment ,
Terrorism Funding ,
Terrorist Financing ,
Terrorist Financing Regulations ,
Transaction Monitoring ,
UK ,
Virtual Currency
What has happened?
G20 member countries are looking at an October deadline for reviewing a global anti-money laundering (AML) standard on cryptocurrency....more
What has happened?
The Jersey Financial Services Commission (JFSC) has issued a guidance note on its approach to initial coin offerings (ICOs)....more
What has happened?
The Bank of England (BoE) has confirmed that its revamped real-time gross settlement (RTGS) system will be compatible with interface systems that run on blockchain-based technology....more
Three European regulators have warned investors about the risks associated with dealing with virtual currencies, saying they are unsuitable “for most purposes, including investment and retirement planning”....more
2/14/2018
/ Bitcoin ,
Cryptocurrency ,
Digital Currency ,
EU ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Initial Coin Offering (ICOs) ,
International Regulatory Standards ,
Token Sales ,
Unregistered Securities ,
Virtual Currency