Financial MarketsRSS
FCA entrance

UK's new SPAC rules kick-off but some concerned it's too late

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. 

Jamaica flag

Jamaica begins 'retail' CBDC pilot

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.

BCBS

BIS lauds CBDCs while dismissing cryptocurrencies and stablecoins

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”.

Philipp Pieper

Will MiCA support the EU’s crypto revolution?

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. 

Richard Hopkin

Regulators accused of whitewashing securitisation report

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

Two Fed officials question need for US dollar CBDC

The US may not need a central bank digital currency (CBDC) according to two officials from the US Federal Reserve as many dollar transactions are already electronic. 

Bank of England

UK regulators urge liquidity providers to switch to SOFR from July 26

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. 

Crypto

Bank of England cautious on CBDCs due to lingering uncertainties

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. 

John Salmon

Global rules could significantly alter crypto’s development

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. 

YVES_LONGCHAMP

Crypto emerges from the shadows

The promise of profits and efficiency gains is seeing cryptocurrencies and their supporting blockchains being steadily drawn out from the shadows and into as yet largely unfinished regulatory parameters.