Latest news with #digitalcurrencies
The Guardian
7 days ago
- Business
- The Guardian
George Osborne says UK has been left behind in cryptocurrency boom
The UK has been left behind in the cryptocurrency boom and is in danger of missing a second wave of demand, according to the former chancellor George Osborne. Osborne, who has an advisory role at the crypto exchange firm Coinbase, said the country had already missed out on the first generation of crypto because the formerly sceptical US has embraced digital currencies under Donald Trump. 'What I see makes me anxious. Far from being an early adopter, we have allowed ourselves to be left behind,' wrote Osborne in a Financial Times opinion piece. Osborne said the UK was now about to miss a new surge in the crypto market: stablecoins. Unlike bitcoin, which is prone to extreme fluctuations in price, stablecoins are digital currencies pegged to the value of real-world currencies such as the dollar – and thus designed to maintain a stable value. However, a leading stablecoin, TerraUSD, did collapse in 2022. 'If Britain was the only financial centre in the world we could take our time to evaluate how stablecoins will develop, but we are not,' wrote Osborne. 'Singapore, Hong Kong and Abu Dhabi have adopted comprehensive legislative frameworks for crypto asset platforms.' Osborne also pointed to the passing of the US Genius Act, which creates a regulatory regime for stablecoins – the majority of which are now dollar-backed. 'The crypto revolution may have started with plans to replace the dollar as the world's reserve currency, but it is reinforcing its dominance. Britain's current approach ensures the pound won't even play a supporting role,' Osborne wrote. US citizens in the US can buy a bitcoin exchange traded fund – a basket of assets that can be bought and sold like shares on an exchange – whereas in the UK retail investors cannot do so. Osborne accused the UK of prevaricating over stablecoins, with the current chancellor, Rachel Reeves, showing insufficient commitment with a pledge last month to 'drive forward' on stablecoins, while the Bank of England remains sceptical. In a speech last month the Bank of England governor, Andrew Bailey, called for the development of standards that show whether stablecoins pass the test of 'singleness of money' – or whether a stablecoin can be exchanged with another form of money one-for-one. 'This hesitation risks irrelevance,' wrote Osborne, who added that it was time for the UK to 'catch up'. Other crypto advocates from the era of the 2010-2015 Conservative-led coalition government include another former chancellor, Philip Hammond, who is chair of the crypto firm Copper. The UK treasury has been approached for comment.
Globe and Mail
29-07-2025
- Business
- Globe and Mail
Intellistake Technologies Corp. Appoints Shelly Murphy, DesTechAZ Co-Founder with Steve Wozniak, to Advisory Board to Propel Growth in Decentralized Artificial Intelligence and Digital Currencies
VANCOUVER, BC, July 29, 2025 /CNW/ - Intellistake Technologies Corp. (CSE: ISTK) (OTC: ISTKF) (FSE: E41) (" Intellistake" or the" Company") is pleased to announce the appointment of Shelly Murphy to its Advisory Board. A trailblazer in technology, education, and finance, Murphy will provide strategic guidance to support the Company's change of business to a technology company focused on decentralized artificial intelligence (" AI") and digital currencies.
Wall Street Journal
26-07-2025
- Business
- Wall Street Journal
The Hottest Business Strategy This Summer Is Buying Crypto
It's the hottest trade of the summer. Companies are raising tens of billions of dollars, not to invest in their businesses or hire employees, but to purchase bitcoin and more obscure cryptocurrencies. A Japanese hotel operator, a French semiconductor manufacturer, a Florida toy maker, a nail-salon chain, an electric-bike maker—they're all plowing cash into tokens, helping to send all kinds of digital currencies to record levels. News that a new company plans to buy crypto is enough to send its shares flying—spurring others to consider joining the frenzy.
Finextra
21-07-2025
- Business
- Finextra
CBA, JPMorgan, ASX and HQLAX form consortium for RBA's tokenised asset market pilots
Commonwealth Bank of Australia (CBA) has welcomed the opportunity to join the Reserve Bank of Australia (RBA) and Digital Finance Collaborative Research Centre (DFCRC) project to help research domestic wholesale tokenised asset markets with the aim of making significant improvements to the $350 billion repurchasing agreement 'repo' market. 0 The RBA has chosen CBA, J.P. Morgan, the Australian Securities Exchange (ASX) and HQLAX including its Trusted Third Party Deutsche Börse Group as part of Project Acacia to evaluate how digital currencies and digital collateral records could deliver greater efficiency and liquidity with lower risk in the strategically important repo market. The project will leverage Kinexys Digital Assets, J.P. Morgan's multi-asset tokenisation platform, CBA's Digital Assets Platform, HQLAX collateral mobility solution and the local expertise of ASX. Related articles CBA joins industry pilot to explore use cases for a CBDC Reserve Bank partners with CBA and others on Wholesale Central Bank Digital Currency research project The 'repo' market is a critical and growing component of the Australian financial system. Repos play a vital role in the economy by: Providing essential short-term funding for banks and financial institutions Enabling the Reserve Bank of Australia to implement monetary policy Facilitating liquidity management across the financial system Supporting the efficient functioning of government bond markets "We're very pleased to bring together globally recognised digital asset leaders and critical financial markets infrastructure providers to explore how digital currencies and tokenisation can ensure the global competitiveness of Australia's financial markets,' said Sophie Gilder, CBA's Managing Director of blockchain and digital assets. 'The repo market, with its critical role in liquidity management and monetary policy implementation, represents an ideal starting point for this exploration.' 'We are pleased to join with CBA, ASX and HQLAX to explore how Kinexys, J.P. Morgan's industry-leading blockchain business unit, can contribute to the efficiency of Australia's financial markets,' said Bianca Bates, head of J.P. Morgan Payments in Australia and New Zealand. 'As one of the first bank-led blockchain platforms, we have delivered many industry firsts, from programmable payments for corporate clients to instant settlement between U.S. dollars, euros and British sterling. Since inception, Kinexys has processed over U.S.$2 trillion in transaction volume.'
Yahoo
15-07-2025
- Business
- Yahoo
Circle Internet (CRCL) Surges 9.3% as Market Enters 'Crypto Week'
We recently published . Circle Internet Group (NYSE:CRCL) is one of Monday's top performers. Circle Internet rebounded from the previous trading day's losses on Monday, gaining 9.27 percent to close at $204.7 apiece as investors took heart from this week's expected passage of three measures that would regulate the framework for digital currencies. Over the next few days, the House of Representatives is expected to pass three measures, namely the Genius Act, the Clarity Act, and the Anti-CBDC Surveillance State Act, which, if passed into law, could support Circle Internet Group's (NYSE:CRCL) aggressive expansion into the digital asset sector. 10 Companies Buying Bitcoin Like There's No Tomorrow Weeks earlier, Circle Internet Group (NYSE:CRCL) announced the official submission of an application with the Office of the Comptroller of the Currency (OCC) to establish a national trust bank, First National Digital Currency Bank, N.A. If approved, the bank would be authorized to operate as a fully regulated trust institution and would oversee the management of the USDC stablecoin reserve on behalf of Circle. While we acknowledge the potential of CRCL as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
