CRYPTONAIRE
WEEKLY CRYPTO investment journal
The UK to Lead in New Technologies “Stablecoins & CBDCs” Following the Departure from the EU: Chancellor
Chancellor Rishi Sunak said on Monday that to maintain certainty and stability for firms in the UK following its departure from the European Union, they will be “leading the global conversation on new technologies like stablecoins and Central Bank Digital Currencies.” For this, the UK will extend its leadership in financial technology, which means remaining at the forefront of technical innovation. Here, Sunak mentions new technologies such as stablecoins, the privately-issued digital currencies which “could transform the way people store and exchange their money, making payments cheaper and faster.” However, to harness these benefits, the government will propose a regulatory approach that ensures these stablecoin initiatives meet the same minimum standards as other payment methods. On the topic of central bank digital currencies, the UK wants to take a “leading role in the global conversation.” Read more...
Cryptonaire Weekly | November 10th 2020
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