Technology News

Bank of England set for new innovation mandate covering stablecoins

The UK government is establishing a new mandate for the Bank of England to foster innovation in digital payments, particularly stablecoins. This initiative will introduce a secondary objective for the central bank, focusing on emerging digital money and payment systems. The Bank of England’s primary objective of financial stability will remain paramount. This development is part of broader UK efforts to integrate stablecoins through regulatory changes and international collaboration. The Bank of England set for this new mandate is expected to undergo parliamentary debate in September. The central bank will report annually to Parliament on its progress in payments innovation. Concerns exist regarding the impact of current stablecoin reserve requirements on commercial viability. The UK has also been involved in experimental stablecoin initiatives and joint statements with the US on cross-border stablecoin use. The Bank of England has adjusted previous stablecoin holding limits, implementing a temporary issuance cap for systemic stablecoins.

Banks, regulators join quantum-resistant crypto transfer pilot

Banks and financial regulators across Europe, the Middle East, and Asia have launched a pilot program to test quantum-resistant infrastructure for digital asset wallets and on-chain transfers. The Responsible Fintech Institute (RFI) and Safeheron announced the initiative, which uses a multiparty computation protocol supporting ML-DSA-65 on a quantum-resistant NEAR testnet. Participating entities include regulators from Abu Dhabi, Bhutan, and Malta, alongside Bison Bank and DK Bank. The program aims to develop secure quantum-resistant crypto transfer methods, with plans to publish a white paper and open-source the technology. This effort addresses the threat of quantum computing to public-key cryptography, aligning with global financial authorities' preparations for future security challenges.

ASX Shareholder Seeks Legal Action Against Former Directors Over Failed Blockchain Project

An Australian Securities Exchange (ASX) shareholder plans to sue former ASX officers and directors over alleged breaches of duty connected to its failed blockchain-based clearing and settlement overhaul.

World Foundation Secures $52.5 Million in WLD Token Sale for Global Expansion

The World Foundation has raised $52.5 million in a strategic WLD token sale, with all purchased tokens subject to a one-year lockup. The funding aims to expand World ID technology globally, coinciding with the project's three-year anniversary. The initiative has faced regulatory scrutiny regarding its biometric data collection.

Payward and GTN Partner to Expand xStock Tokenization Globally

Kraken parent company Payward partners with GTN to scale xStocks internationally, beyond US equities

WLFI Under Investigation: Analyst Warns Hyperliquid Could Be the Next Target

Key Takeaways: WLFI faces scrutiny after U.S. senators raised concerns about a $10,000 portion of its $550 million token sale. Analyst ZachXBT suggests Hyperliqu..

OpenAI to Launch Its First “Open-Weight” Language Model Since GPT-2 in 2019

OpenAI is preparing to launch an "open" version of its language model this year, allowing developers to run it on their hardware. CEO Sam Altman shared the update on Ma..

Crypto Will Dominate the AI Era: Balaji Srinivasan Explains Why

Former Coinbase executive Balaji Srinivasan believes that cryptocurrency will become the primary form of money in the era of artificial intelligence (AI). Srinivasan..