-
1 week ago | 
mondaq.com | Grace B.A. Wyatt |Rebecca Hickman |Tom Rhodes |Edward Warmington
The UK's Payments landscape hasadvanced substantially in recent years. There are several in-flightplans and initiatives across the payments sector, and with therecently published National Payments Vision (NPV) the UK Governmenthas made it clear that they will take any necessary steps toenhance the UK's payments sector to support economic growth.
-
1 month ago | 
mondaq.com | Grace B.A. Wyatt |Tom Rhodes |Josh Payne
In this issue we provide an update on the next steps for the UKCryptoassets regulation. These publications provide thelong-awaited direction of travel for the regulation of this sector,and even though the details are still to be confirmed, they providesome degree of clarity to the industry. This edition also includesan update on the Payment Systems Regulator's recentconsultation on market review into cross-border interchange feesremedies.
-
1 month ago | 
mondaq.com | Grace B.A. Wyatt |Tom Rhodes
In this issue we provide an update on the next steps for the UKCryptoassets regulation. These publications provide thelong-awaited direction of travel for the regulation of this sector,and even though the details are still to be confirmed, they providesome degree of clarity to the industry.
-
Dec 9, 2024 | 
thepaymentsassociation.org | Grace B.A. Wyatt |Addleshaw Goddard
The upcoming changes in cryptocurrency regulation and its impact on payment services, focusing on the UK’s approach compared to the EU. It outlines how the regulatory landscape for cryptocurrencies in the UK will evolve, affecting businesses and compliance. The UK government and the FCA will further develop and implement these regulations through consultations and legal frameworks, aiming for a comprehensive rollout by 2026.
-
Aug 19, 2024 | 
lexology.com | Grace B.A. Wyatt |Dan Park |Christina Wu |Lavan Thasarathakumar |Virginia Phillips Montgomery
On 30 July 2024, the Bank of England (BoE) published a discussion paper setting out its approach to innovations in money and payments (Discussion Paper). In the Discussion Paper, the BoE sets out its current view on innovations in the payments industry, providing insight into its thoughts on DLT, tokenised deposits and stablecoins. The BoE takes a very cautious view of the development of private money for the wholesale use case, citing threats to financial stability and the singleness of money.
-
Jun 20, 2024 | 
jdsupra.com | Virginia Phillips Montgomery |Grace B.A. Wyatt
June 20, 2024
To embed, copy and paste the code into your website or blog:
[co-author: Ada Nourell]Key developments of interest over the last month include: the European Banking Authority’s publication of a report on virtual IBANs; HM Treasury’s designation of banks under the access to cash framework; and a Central Bank of Ireland speech on key aspects of a successful authorisation application under MiCA.
-
Jun 10, 2024 | 
lexology.com | John Salmon |Roger Tym |Grace B.A. Wyatt |Christina Wu
From the use of metal coins to the dematerialization of money, the advent of distributed ledger technology (DLT) and tokenisation arguably represents the next stage in the evolution of money and the payments ecosystem. As noted in the PRA’s Dear CEO letter on ‘Innovations in the use by deposit-takers of deposits, e-money and regulated stablecoins’ dated 6 November 2023, we are now seeing “innovations in the forms of digital money and money-like instruments available to retail customers”.
-
Jun 6, 2024 | 
lexology.com | Roger Tym |Grace B.A. Wyatt |Isabel Costa Carvalho |Sara Lenet |Andrew McGinty |Mark Parsons
Click here to watch the videosFollowing our successful Payments Conference last September, Hogan Lovells' cross-border team has recorded these two sessions which take an in-depth look at topics that generated particular interest from the audience and discuss recent developments occurring in the payments space globally.
-
May 24, 2024 | 
jdsupra.com | Virginia Phillips Montgomery |Grace B.A. Wyatt
In this Newsletter: Regulatory Developments: Payments Regulatory Developments: Digital Assets Market Developments Surveys and Reports For previous editions of the Payments Newsletters, please visit our Financial Services practice page.
-
Apr 18, 2024 | 
jdsupra.com | Virginia Phillips Montgomery |Grace B.A. Wyatt
A speech by the Bank of England’s Deputy Governor for Financial Stability, Sarah Breeden, at the Innovate Finance Global Summit 2024, considered the implications of new technologies for digital money, retail payments, and wholesale settlement and payments, and the Bank of England’s regulatory and infrastructure work in these areas.
