After months of deliberation, US President Joe Biden has nominated a Comptroller of the Currency in former Davis Polk & Wardwell attorney Saule Omarova, who would be the first woman and person of colour to permanently fill the role.
24 September 2021
Ahead of its release of a highly-anticipated paper into the viability of a digital dollar, members of the US Federal Reserve have expressed conflicting views on whether a US CBDC would be necessary or desirable.
09 August 2021
The European Central Bank moved further in its digital currency plans, announcing a 24-month-long investigation into the new coinage as experimentation proves current options viable.
15 July 2021
The Bank for International Settlements has backed two-tier central bank digital currencies, with its head of research calling them “a concept whose time has come”.
24 June 2021
A government taskforce formed to revamp UK regulation post-Brexit has recommended dumping EU rules for a less prescriptive common law approach – including a more aggressive transition to open banking, a hybrid CBDC and a “graduated” capital requirements regime for challenger banks.
21 June 2021
Banks with cryptoasset exposure will be heavily regulated – and have to maintain the full value of crypto held – under new proposals from the Basel Committee, which predict increasing risk to banks from the volatile assets.
14 June 2021
Stablecoins must be heavily regulated – including potentially authorised as banks – the Bank of England has recommended, as it continues to explore potential for central bank digital currencies.
09 June 2021
India’s central bank has told the country’s lenders to stop citing its own now-obsolete order that banned banks from offering their services to cryptocurrency exchanges and customers.
02 June 2021
Brazil’s central bank has released guidelines for a digital real, promising further change to the country’s payments landscape after its approval of WhatsApp Pay and the introduction of a local digitised payments system.
26 May 2021
Three industry bodies in China have announced a ban on financial institutions and payment companies from providing services related to cryptocurrency transactions, in a move one practitioner calls an effort to “contain a competitor”.
21 May 2021
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