BIS – Page 10 – DIGIT INFO

Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot

The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies.

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IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments

The International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can be achieved … as long as countries work together.” The Committee on Payments and […]

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IMF, World Bank and BIS champion central bank digital currencies at G20

A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development.

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US State Department Official Wants El Salvador to ‘Ensure Bitcoin Is Well Regulated’

The U.S. Department of State’s undersecretary of state for political affairs, Victoria Nuland, has explained during a press conference that the U.S. has urged El Salvador to be responsible with the country’s new bitcoin law. Nuland told the press that the U.S. was taking a “tough look at Bitcoin” and that Salvadoran president Nayib Bukele […]

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BIS Economist Recommends ‘Technology-Neutral’ Crypto Regulation, Low-Cost Supervision of Decentralized Markets

An economist with the Bank of International Settlements has found that cryptocurrencies are not sought as an alternative to fiat currencies or regulated finance, therefore a “technology-neutral regulation to this asset class” is recommended. The economist discussed “embedded supervision,” adding that “The main aim is low-cost supervision of decentralized markets.” BIS Economist Suggests Regulatory Approach […]

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Crypto ownership has nothing to do with distrust in fiat: BIS study

Cryptocurrency owners are “generally more educated than the average,” according to a new study by the Bank for International Settlements.

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BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks

The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes Cryptocurrencies, Bitcoin The Bank of International Settlements published its annual economic report Wednesday, discussing cryptocurrencies, […]

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BIS optimistic about central bank digital currencies

The central bank of central banks says CBDCs are necessary for maintaining the status quo of the legacy financial system.

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Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador

Bitcoinization: JPMorgan Says 'Similarly Situated' Countries May Make Bitcoin Legal Tender Like El Salvador

JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may be “the beginning of a broader trend among similarly situated, smaller nations.” JPMorgan’s Opinion on […]

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Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks

The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.” Crypto Regulation Proposed by Basel Committee on Banking Supervision The Basel Committee has proposed […]

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