Bank of England Governor warns that advanced AI could destabilize the highly interconnected global financial system via cyberattacks across jurisdictions
Andrew Bailey warns group about risk of advanced ‘frontier models’ destabilising the ‘highly interconnected’ financial system
The UK Treasury committee says the government and Bank of England's “wait-and-see approach” to AI risks in the financial sector exposes the UK to “serious harm”
Government, Bank of England and FCA criticised for taking ‘wait-and-see’ approach to AI use in financial sector
Sources: Bank of England officials are holding up Revolut's full UK license over concerns about whether its risk controls can keep pace with its global growth
Financial Times :
Sources: Bank of England governor blocked a meeting arranged by UK Chancellor between regulators and Revolut to discuss Revolut's full banking authorization
Financial Times :
Report: a group of central banks developed 33 API functionalities to test 30+ CBDC online, offline, and in-store use cases, via QR codes, phones, and more
An API layer could facilitate a wide range of central bank digital currency payment scenarios, a Bank for International Settlements and Bank of England experiment has shown.
HSBC acquires Silicon Valley Bank's UK arm for £1, citing “strategic sense for our business”; as of March 10, SVB UK had ~£5.5B in loans and ~£6.7B in deposits
Sale Facilitated by Government, Bank of England Tweets: Jeremy Hunt / @jeremy_hunt : This morning, the Government and the Bank of England facilitated a private sale of Silicon Valley Bank UK to HSBC D...
UK debuts Cryptoassets Task Force, a collaboration between the Treasury, Bank of England, and Financial Conduct Authority to explore crypto's risks and benefits
Annaliese Milano / CoinDesk :
UK debuts Cryptoassets Task Force, a collaboration between the Treasury, Bank of England, and Financial Conduct Authority to explore crypto's risks and benefits
Annaliese Milano / CoinDesk :
Winklevoss' Gemini exchange and Coinbase suffer extended service outages, citing “all-time high traffic”; bitcoin dropped to $9.4K from all time high of ~$11.4K
Coinbase : 8 . Ashour Iesho / Bitcoinist.com : Bank of England Deputy Claims Bitcoin ‘Too Small’ to Threaten World Economy Leigh Cuen / International Business Times : Why Bitcoin Prices Just Hit $11,0...