The UK Chancellor of the Exchequer Philip Hammond will announce the creation of a task force focused on cryptocurrencies; the task force will include the Treasury, the Bank of England, and Britain's financial watchdog the Financial Conduct Authority; the task force will help manage the risk surrounding cryptocurrencies and better understand how blockchain technology can be implemented. Source.
The Bank of England decided to keep rates steady at 0.5 percent which will be a big benefit to P2P...
While publishing the results of the latest stress tests on the UK’s biggest banks the Bank of England warned that fintechs could take significant market share; the Bank of England identified three main areas of concern for banks: competition from fintechs, cost reduction while delivering services and low interest rates; these key areas could hurt profitability at banks in the coming years and app based disrupters could be the beneficiaries. Source.
For the first time the Bank of England intends to offer tech companies the chance to have accounts at the...
While regulators in the U.S. and around the world had mainly negative things to say about Facebook’s new Libra digital...
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