During a speech today, Sir Jon Cunliffe, Deputy Governor of the Bank of England, said that the UK’s FMI Sandbox would initially focus on DLT-based securities settlement systems. In April, the regulatory sandbox was announced as a joint initiative between HM Treasury, the Bank of England and the Financial Conduct Authority to be launched in 2023.
Cunliffe outlined the potential pros and cons of using blockchain for securities trading and settlement. These include:
He also mentioned the potential risks:
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