News In Brief - September 10, 2021

September 10, 2021
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The UK's Payment Systems Regulator has appointed two new senior advisors, and Cypriot authorities embrace blockchain and cryptocurrencies.

PSR Appoints Two New Senior Advisors

The UK's Payment Systems Regulator (PSR) has appointed two new senior advisors — Helen Weeds and Nick Fincham. Both will join on September 13. The former will concentrate slightly on "competition economics" and the latter will concentrate slightly on "regulatory economics".

Weeds is a competition economist. Most recently, she has worked as a senior consultant to the European Competition Practice at the management consultancy firm of Charles River Associates. She is an Honorary Senior Research Fellow at Imperial College Business School in London and has worked in advisory roles for the National Infrastructure Commission and to the House of Commons Culture, Media and Sport Committee.

Nick Fincham, according to the PSR, is an "economic" regulator, a consultant and the co-chair of the Regulatory Policy Institute. Until recently he was on the board of Thames Water. He has worked at a number of regulatory authorities including Ofgem, the Postal Services Commission and the Civil Aviation Authority.

Cypriot Authorities Back Blockchain, Cryptocurrencies

Cyprus’ National Betting Authority (NBA) is backing blockchain and cryptocurrencies to accelerate its own “digital transformation” and believes the technologies will strengthen cooperation between public bodies to benefit the gambling industry.

During the “Blockchain & Cryptocurrency Technologies” conference held in Cyprus on September 8, the University of Nicosia presented a study on the effect and benefits that the application of blockchain technology and cryptocurrencies can bring, both in the internal operation of the NBA and in the development of the gambling market.

Dimitra Kalogirou, chair of the Cyprus Securities and Exchange Commission, also expressed that the Cyprus Securities and Exchange Commission supports the responsible innovation of the technologies, “while ensuring the smooth operation of markets”.

“Cyprus is one of the main hotspots for blockchain technology in Europe,” said Kyriakos Kokkinos, deputy minister of research, innovation and digital policy, in his opening speech at the conference, referring to a European Observatory and Forum on Blockchain conclusion.

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