The Bank of England (BoE) is working on the potential launch of a digital pound, focusing on the technical challenges of offline payments. Although a final decision on introducing a central bank digital currency (CBDC) is still pending, the BoE aims to address complex issues like preventing double spending without an internet connection. In recent ...
The Bank of England is exploring the possibility of offline digital payment systems for a digital pound, having shown that such technology could work. Their recent project involved partnerships with several tech firms to test phone-to-phone and card-to-phone payments without needing an internet connection. While they found the technology feasible, decisions on implementation will depend ...
The Bank of England has explored the feasibility of offline digital payments, looking into a system that allows transactions between phones and cards without an internet connection. Their project, which involved several tech partners, confirmed that while such a system could work, key decisions about security, risk, and user experience are still needed. Currently, no ...
Trump recently announced heavy tariffs on imports from Canada, Mexico, and China, starting February 4th, causing excitement and concern in the markets. The tariffs are set at a 25% duty for Canada and Mexico and a 10% duty for China. This has led traders to lower their expectations for Federal Reserve rate cuts for this ...
The Bank of England has released a new Blueprint framework outlining how a digital British pound could be developed. Alongside this, they plan to establish a Digital Pound Lab this year. This lab will serve as a testing ground, allowing businesses to explore new use cases for central bank digital currency (CBDC), assess potential business ...
The New York Department of Financial Services (NYDFS) has teamed up with the Bank of England to launch a Transatlantic Regulatory Exchange program aimed at improving oversight of digital assets and emerging payment systems. This initiative involves exchanging experienced staff between the two regulatory bodies for at least six months, starting in February. The goal ...
New York’s Department of Financial Services (DFS) has partnered with the Bank of England to launch the Transatlantic Regulatory Exchange (TRE). This initiative aims to enhance expertise in emerging payments and digital assets by allowing staff exchanges between the two financial authorities. Starting next month, DFS and the Bank of England will share senior staff ...
New York’s financial regulator has teamed up with the Bank of England to establish the Transatlantic Regulatory Exchange (TRE), which will allow them to share staff and expertise. Starting next month, senior officials with knowledge in emerging payments and digital assets will exchange positions for six months, with the possibility of extension. This collaboration aims ...
Central banks are actively researching retail central bank digital currencies (CBDCs), with 2025 likely marking key decisions on their launch. A report from OMFIF highlights that 81% of surveyed central banks are considering issuing a CBDC, with nearly half expecting to do so within five years. The European Central Bank is developing a digital euro, ...
