Gillmore Centre Network
The Gillmore Centre Financial technology responded to HM Treasury and Bank of England consultation on the Digital Pound
The Gillmore Centre has respondedLink opens in a new windowLink opens in a new window to the Bank of England’s discussion paper on the Regulatory regime for systemic payment systems using stablecoins and related service providers.
Link to detailLink opens in a new window
https://www.thebanker.com/Iosco-DeFi-regulation-proposals-would-result-in-limited-fraud-reduction-1697009629
Ganesh Viswanath Natraj, assistant professor of finance at the Gillmore Centre for Financial Technology at Warwick Business School, shares his views on decentralised finance.
Bank of England unveils plans to regulate stablecoins
The Bank of England and the Financial Conduct Authority have unveiled plans to regulate stablecoins in the latest sign of the government’s attempt to lure crypto companies to the UK.
The proposals will only apply to sterling-denominated coins.
They aim to “protect consumers, prevent money laundering with a robust set of rules and to safeguard financial stability” and include a requirement that issuers back stablecoins with deposits at the Bank of England instead of using a commercial bank.