Bank of England Empowers Stablecoin Supervision in Financial Paradigm Shift
The Bank of England is taking a prominent role in reshaping the landscape of stablecoin regulations, marking a significant shift in the financial regulatory landscape. The British government’s response to a comprehensive consultation process underscores this recalibration, favoring the BoE over the Financial Conduct Authority (FCA). The approach centers around a collaborative supervisory framework involving both entities for “systemically important stablecoins.” This move reflects the evolving dynamics of digital finance and emphasizes the BoE’s commitment to ensuring financial stability in an increasingly complex environment. The BoE’s influence in driving these changes signals a pivotal step toward shaping the future of stablecoin regulations.
Ericsson to invest in 6G network research in Britain
Network equipment maker Ericsson will invest millions of pounds in 6G mobile research in Britain, it said on Tuesday, working with universities on hardware security, AI and cognitive networks and quantum computing.
Analysis: Sterling returns to the 1980s, and it may get cheaper still
Sterling’s slide against the dollar to a rate last seen in 1985 has sparked talk of a dramatic spiral downwards that ends in a collapse in confidence in British assets and a balance of payments crisis.
Kremlin rejects Russian default, says bond payments executed
The Kremlin on Monday rejected claims that it has defaulted on its external debt for the first time in more than a century, after a grace period on $100 million interest payments ran out.
