On August 10, the UK’s rules were liberalised for special purpose acquisition companies (SPACs) with the UK authorities hoping it will make the country more attractive to fast growth firms seeking a quick stock exchange listing. 

While most of the big jurisdictions are still toying with the idea of central bank digital currencies, the Bank of Jamaica is ploughing ahead having delivered its first batch of CBDCs to deposit takers and payment services providers in a pilot exercise.

Central bank digital currencies (CBDCs) preserve the core functions of money in the digital era, said the Bank for International Settlements (BIS) in a report on June 23, dismissing cryptocurrencies as “speculative” and stablecoins as an “appendage”.

The EU sees crypto with a mixture of trepidation and optimism, but still has a unique chance to transform the bloc into a world leader in the technology depending on how it regulates it. 

A landmark 66-page report on the securitisation market published ahead of a pivotal European Commission (EC) consultation has been branded a “Titanic-like” disappointment by many in the industry

Liquidity providers are being encouraged by the Bank of England and the Financial Conduct Authority (FCA) to switch from the London interbank offered rates (Libor) to the Secured Overnight Financing Rate (SOFR) for dollar interest rate swaps from July 26. 

The Bank of England appears to be edging closer to launching a UK central bank digital currency (CBDC), but still has concerns over how it might impact the financial sector. 

The Financial Action Task Force (FATF), which focuses on fighting financial crime, is the most advanced of the international standard setters (ISS) for creating rules governing crypto assets. Its actions so far suggest that once the other ISSs catch up, more constraints could be placed on crypto.