The survivors of the rout in crypto assets could become the technology companies of the future, the Bank of England’s deputy governor said.
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British finance minister Rishi Sunak told the Bank of England on Monday to look at the case for a new “britcoin”, or central bank-backed digital currency.
Current and former central bankers in Jackson Hole, Wyoming, weren’t sure if Mark Carney’s idea for a virtual reserve currency is the answer, but they agree that the dollar’s dominance is a problem.
Mark Carney has laid out a radical proposal for an overhaul of the global financial system that would eventually replace the dollar as a reserve currency with a libra-like virtual one.
The rapid evolution of crypto assets such as bitcoin may one day make them a threat to the financial system, Mark Carney, chairman of the Financial Stability Board, said in a letter to Group of 20 finance leaders. “Wider use and
The financial institutions of the City of London and Wall Street are to take part in a series of “war game” exercises aimed at testing their resilience to cyberattack. The announcement comes as British Prime Minister David Cameron travelled to the White House to