June 19 (Cointime) - Quant (QNT) saw a surge in price due to its collaboration with the Bank for International Settlements (BIS) and Bank of England for Project Rosalind, a test for the UK’s central bank digital currency (CBDC). However, the crypto markets are currently in decline, resulting in a 2% decrease in QNT's price.

June 19 (Cointime) - The Bank of England (BoE) has made progress towards launching its central bank digital currency (CBDC) known as "Britcoin" after completing a trial study called Project Rosalind.

June 16 (Cointime) - The Bank of England (BOE) has completed a yearlong project called Rosalind, in collaboration with the Bank for International Settlements (BIS), which found that a central bank digital currency (CBDC) could offer a "diverse range" of benefits, including faster and simpler person-to-person payments, innovative financial products, and reduced fraud. The report from the first phase of the experiment also revealed that a CBDC could introduce the concept of "programmability" to money. The BOE's interest in launching its own CBDC, informally known as "Britcoin," has been strengthened by these findings, but the decision still requires the support of the UK Treasury. The project also addressed concerns about privacy, with the conclusion that privacy could be maintained.

According to a new report by Grand View Research, the global non-fungible token (NFT) market is expected to reach $211.72 billion by 2030, growing at a compound annual growth rate (CAGR) of 69.4% from 2021 to 2030. The report cites the increasing adoption of blockchain technology and the growing demand for digital ownership and authenticity verification as the major factors driving the market growth. The gaming and art industries are expected to be the major contributors to the NFT market during the forecast period.

The Bank of England has extended its CBDC consultation deadline from June 7 to June 30 due to a technical glitch that omitted a question about non-residents and the digital pound.

Revolut, a UK-based neobank that offers cryptocurrency trading, may have its application for a banking license rejected by the Bank of England, according to a report by The Telegraph. The BOE has informed the UK Treasury of its plans to reject the application, but neither Revolut nor the BOE have commented on the matter.

Carolyn Wilkins, an external member of the Bank of England's Financial Policy Committee, has outlined the three main design principles for a Central Bank Digital Currency (CBDC): focusing on core public policy objectives, mitigating financial stability risks, and setting high technology standards.

The governor of the Bank of England, Andrew Bailey, has argued that stablecoins cannot function as money because they have no assured value. Bailey made the remarks during a virtual conference hosted by the Davos-based World Economic Forum, where he discussed the challenges and opportunities associated with the use of stablecoins and other digital currencies.

The Bank of England (BoE) has said that a digital pound is "likely to be needed" in an increasingly digital world but clarified that it will not replace cash under the proposed Central Bank Digital Currency (CBDC) system. In February, the Treasury opened a public consultation on the digital pound, inviting individuals and businesses to share their opinions. The Times reported that the proposed CBDC will be more stable than decentralized cryptocurrencies, but it could not provide a firm answer on the difference between regular, existing card payments and the digital pound. Public opinion on CBDCs is generally negative, including concerns about financial privacy and infringement of personal freedoms.

The Bank of England is reportedly seeking to build a team of up to 30 individuals to develop a central bank digital currency (CBDC), according to the Sunday Times.