Editor’s ChoiceUS and UK will Team Up to regulate Cryptocurrencies

US and UK will Team Up to regulate Cryptocurrencies

US and UK had a meeting to discuss the steps for developing cross-border strategies. They are aiming to regulate crypto industry in a good and appropriate way. They also discussed CBDCs in the meeting.

According to the report from high authorities, Bank of England staff & FCA (financial conduct authority) all participated in this meeting. They discussed the recent development of stablecoins and CBDCs in the meeting. The document shows that they set another meeting for dialogues in feature.

Since its start cryptocurrency has been made for borderless transactions. regulators force to develop cross-border efforts targeting the crypto industry.

US and Uk staff participants also discuss the upcoming feature opportunities on cross-border crypto asset regulation. They discuss their respective policy and regulatory agendas. 

Borth country’s participants appreciated that robust cross-border regulatory cooperation. Which is willing to give a simple and clear regulatory framework to regulate crypto stable coins and exchanges as well and also regulate crypto exchanges. It will be the main focus of the feature.

CBDCs

US and UK also updated their approaches to CBDC. They exchange views on each other plains of policy research and technology findings. According to the report of BIS (Bank of international), nine out of ten central banks are finding how to launch their CBDCs. The rising trend of CBDCs is perceived by many banks as an evolution of their respective roles rather than a revolution.

Read: Ethereum gas fee falls down to $1.57 to its lowest since 2020.

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