The information is necessary for the work of the PRA and the Bank of England when forming rules for regulating the crypto market, officials explained. It will provide data on the real scale of companies’ business activity related to cryptoassets, as well as formulate an approach to risks.
The PRA’s survey focuses on collecting data on possible concerns associated with the Basel Committee on Banking Supervision’s requirements for the storage and disclosure structure of crypto assets and plans for the use of public blockchains.
The regulator asks companies to take into account any future plans for the development of cryptocurrency projects with a horizon until September 30, 2029. Data collection must be completed by March 24, 2025.
Earlier, the British central bank announced the creation of a scientific advisory group on the development of a digital pound sterling. The department invited “academics and researchers” to participate in the experiment.
Source: Bits
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