Crypto amplified financial risks in emerging markets: BIS papers
Central banks of the United States, Canada, Mexico and Brazil have pointed out the risks of crypto, but warned against excessively prohibitive laws. Go to Source
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BIS gives CBDCs a thumbs up, crypto the middle finger in reports to G20 ministers
G20 finance ministers and central bank governors are meeting this month, and the Bank for International Settlements has findings to present. Go to Source Powered by WPeMatico
Research: There could be 24 CBDCs live by 2030
93% of the central banks are already conducting research on central bank digital currencies, 68% are still not ready to launch their digital money. Go to Source Powered by WPeMatico
BIS develops framework against CBDC cyberattacks
The institution cited rising exploits against DeFi as a need for more secure CBDCs. Go to Source Powered by WPeMatico
BIS, 3 central banks look at DeFi technology for wCBDC FX in interim project report
Project Mariana uses an automated market maker to reduce settlement risk and to create a liquidity pool in place of order books. Go to Source Powered by WPeMatico
BIS releases unified ledger proposal for cross-border, tokenized asset transactions
Like the IMF’s single ledger proposal released a day earlier, BIS’ unified ledger uses familiar concepts, such as tokenization, without the blockchain. Go to Source Powered by WPeMatico
BIS issues comprehensive paper on offline CBDC payments
According to the Bank for International Settlements, offline payments with CBDC raise new risks related to counterfeiting, fraud and privacy concerns. Go to Source Powered by WPeMatico
BIS, Bank of England concludes blockchain int’l settlements pilot
The insights of Project Meridian would be used by the Bank of England in its Real-Time Gross Settlement (RTGS) system. Go to Source Powered by WPeMatico
CBDC Debate Heats Up: BIS Project Sparks Controversy Among Critics; Lynette Zang Warns of Dangers of CBDCs
During the weekend, discussions about central bank digital currencies, or CBDCs, trended on social media as many people believe the idea will result in increased financial surveillance and a totalitarian monetary system. In a recent interview, Lynette Zang, the chief market analyst at ITM Trading, warned that CBDCs will “take the world into a full … Read more
BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model
The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between different [distrubuted ledger technology]-based CBDC … Read more
