Basel Committee suggests introducing maturity limits for stablecoin reserve assets
Should longer-term assets be allowed as reserve assets, the committee believes these must overcollateralize the claims of stablecoin holders. Go to Source
BIS
Auto Added by WPeMatico
BIS advises central banks to plan in advance for CBDC security
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider. Go to Source
BIS Innovation Hub presents its ‘private CBDC’ project
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms. Go to Source
South Korea to invite 100,000 citizens to test CBDC in 2024
Participants will be restricted to using the CBDC only for payment, without an option to store, exchange, or send it to other users. Go to Source
‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option. Go to Source
IMF head: CBDCs can replace cash, help financial inclusion
International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies. Go to Source
Stablecoins ‘not a safe store of value’: BIS
“Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg,” wrote the Bank for International Settlements. Go to Source
BIS general manager urges central banks to “lead innovation” for CBDCs
Agustín Carstens called CBDCs the “central element” of central bank leadership in innovation. Go to Source
Project mBridge reveals details of its workings ahead of MVP, commercial debut
Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is. Go to Source
U.S. Office of the Comptroller will discuss tokenization as opposed to crypto
The OCC will host a symposium on tokenization and its benefits in February 2024. Go to Source