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Author: Colin

EU Regulators Will Discuss Crypto Regulation Next Week

According to a report from CoinDesk EU regulators are due to discuss cryptocurrency regulation next week. Speaking to reporters on Tuesday, European Commission vice president Valdis Dombrovskis said that the meeting would involve representatives from central banks as well as the bloc’s market supervisors. Though unnamed, Dombrovskis said that “market players” would also be invited to speak. Read the full...

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UK Could Be Offered ‘Privileged’ Single Market Access Post Brexit

According to an article in Business Insider, the European Parliament could be about to offer Britain ‘privileged’ single market access after Brexit. The European Parliament is putting together a 60-paragraph document outlining its desire for an “association agreement” with post-Brexit Britain, in a break from the position of the chief EU negotiator Michel Barnier. The European Parliament is pushing for a future relationship with the United Kingdom which could allow for Britain to retain “privileged” access to the single market. This marks a divergence from the position taken by the EU’s negotiating team, which has instead suggested that Theresa...

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Personal Finance Society: Debt a Ticking Time Bomb in 2018

Britons are sitting on a “ticking time bomb” of personal debt that could finally explode in 2018 after years of excessive borrowing. Debt has hit a 30-year high and threatens to push millions into the abyss, according to a new report from the Personal Finance Society (PFS). A “perfect storm” of factors including rising inflation, stagnant wages, climbing credit card rates, pricey car loans and pension pot raiding could tip many over the edge. Total consumer debt hit £200billion in December according to credit ratings agency Standard & Poor’s. PFS chief executive Keith Richards said this is becoming unsustainable:...

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UK Government-backed investment bank needed for SB lending

The Independent reports that a think tank has stated the UK government needs to create an investment bank for SME lending. Britain should set up a state-backed investment bank to focus on small business lending as part of efforts to tackle poor productivity, a think tank has urged. A new report by Civitas argues that the creation of a new “national investment bank” will address the “market failure” that has led to a lack of long-term investment in SMEs. The new lender could be independently financed at no ongoing cost to the taxpayer, Civitas claims, while boosting current low...

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‘Trench warfare’ between analogue and digital financial services

A former high-flying trader who has embraced the world of cryptocurrencies says there is a “trench warfare” going on between traditional financial services and digital upstarts. Danny Masters told Business Insider: “There’s something of a trench warfare going on between what I call analogue financial services companies and digital financial services companies.” Masters began his career as an oil trader at Shell in the 1980s, rising to become head of JPMorgan’s energy trading business in New York. He left in the late 1990s to set up his own commodities fund, Global Advisors. View the full...

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