UK banking regulator to propose crypto issuing, holding rules after Basel 3 finalized

The United Kingdom’s bank regulator, the Prudential Regulatory Authority , will propose rules for issuing and holding digital assets, Bank of England executive director of the Prudential Policy Directorate Vicky Saporta said in a speech at the bank Feb. 27. The rules will be developed with consideration for Basel III rules and the Financial Services and Markets bill now being considered by the Parliament.

international economic growth. To this end, Saporta said, “PRA rule making can deliver three things: harness the UK’s strengths as a global financial center, maintain trust in the UK as a place to do business and tailor regulations to UK circumstances.” She added:The BOE and PRA are working with six other agencies to create a “regulatory grid setting out our plans in one place,” Saporta said.

Awesome news! Exciting times ahead with UK and crypto. We can see a shift of web3 companies from Dubai to UK.

We are here in ETHDenver giving away merch to celebrate; just retweet: 'Pantera Capital launch institutional grade DeFi platform with Instant-Withdraw $ETH staking, leveraging $4.1 billion AUM to show confidence in the Shanghai upgrade' CoinDesk

The BOE and PRA are working with six other agencies to create a “regulatory grid setting out our plans in one place,” Saporta said. That new framework will replace the “labyrinth” of regulations currently in force, many of which are European Union (EU) rules...

Saporta said, “PRA rule making can deliver three things: harness the UK’s strengths as a global financial centre, maintain trust in the UK as a place to do business, and tailor regulations to UK circumstances.”

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Cryptocurrencies Resilient Despite Weaker Equity Markets, Increased Regulatory Activity: Citi.Citi says crypto markets have maintained resilience even in light of weekly declines in traditional financial assets, and correlations with equities have continued to weaken. By willcanny99. Citi willcanny99 Obviously, keep it pumping but it wasn't an easy task to learning the routes on trading . Cormac made it more easier to understand and have made over 6.7btc in space of 8 weeks interval. Details on Telegram;cormac_signals for clinical delivery of trades . Citi willcanny99 lfg coindesk know who the real enemy is ✊ Citi willcanny99
Source: CoinDesk - 🏆 291. / 63 Read more »