Bronwyn Allan

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No-one playing in the sandbox

May 17, 2024 | kpmg.com | Kate Dawson |Bronwyn Allan

1000Home›Insights›No-one playing in the sandboxMay 2024 The EU's DLT pilot regime (DTLR) went live in March 2023, and the UK's equivalent Digital Securities Sandbox (DSS) is set to open for applications this summer.
Systemic or non-systemic...that is the question

Dec 6, 2023 | kpmg.com | Kate Dawson |Bronwyn Allan

Systemic or non-systemic...that is the question Systemic or non-systemic...that is the question Systemic or non-systemic...that is the question1000Home›Insights›Systemic or non-systemic...that is the questionDecember 2023In early November, the FCA and Bank of England (BoE) published sister discussion papers on proposals for the regulation of, respectively, non-systemic and systemic fiat-backed stablecoin (FBS) payment systems.
Next steps for UK stablecoin regulation

Nov 16, 2023 | kpmg.com | Kate Dawson |Bronwyn Allan

Next steps for UK stablecoin regulation Next steps for UK stablecoin regulation Next steps for UK stablecoin regulation1000Home›Insights›Next steps for UK stablecoin regulation November 2023In late October and early November, the government and financial regulators published a flurry of proposals for the regulation of fiat-backed stablecoins (FBS) — progressing measures brought forth under the Financial Services and Markets Act 2023 (FSMA 2023).
Reforming the UK ring-fencing regime

Oct 5, 2023 | kpmg.com | Michelle Adcock |Bronwyn Allan |Kate Dawson

Reforming the UK ring-fencing regime Reforming the UK ring-fencing regime Reforming the UK ring-fencing regime1000Home›Insights›Reforming the UK ring-fencing regimeAs trailed in the 2022 Edinburgh Reforms, the government and PRA have issued a three-part package of proposals and recommendations aimed at reforming the UK ring-fencing regime.
Crypto regulatory round up

Sep 27, 2023 | kpmg.com | Bronwyn Allan |Kate Dawson

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The end of fin-fluencing

Mar 31, 2023 | kpmg.com | Kate Dawson |Bronwyn Allan

Around the world, regulators are pushing forward in their attempts to temper — and in some cases, explicitly ban — the promotion of cryptoassets to retail consumers. In particular, regulators are wary of the rise in `fin-fluencing', whereby celebrities and social media personalities are paid to promote investment in certain crypto products. UK developmentsIn the UK, cryptoasset promotions are currently outside the FCA's remit — but not for long.
To CBDC or not to CBDC

Feb 15, 2023 | kpmg.com | Kate Dawson |Bronwyn Allan |Peter Harmston

European developmentsMeanwhile, across the channel, the ECB's 24-month investigation phase into a digital euro is set to conclude in October 2023, with the development of a prototype. As part of this phase, the ECB has been collaborating with private sector companies and intermediaries on potential user interfaces. Once the prototype is complete, the decision will be made on whether to go ahead with actually developing a digital euro.
A UK regulatory regime for cryptoassets

Feb 15, 2023 | kpmg.com | Kate Dawson |Bronwyn Allan

HMT recognises that there are some areas of the cryptoassets markets that are still rapidly evolving, it requires further information and views from participants before proposing frameworks for these areas:Decentralised Finance (Defi)1 — HMT considers that the same regulatory outcomes should apply to cryptoasset activities regardless of the underlying technology, infrastructure, or governance mechanisms.