BIS head claims fiat won battle with crypto, Bitcoin community disagrees
BIS General Manager Agustín Carstens reckons the war between fiat and crypto has been won by fiat. The community would tend to disagree. Go to Source Powered by WPeMatico
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Most Retail Crypto Investors Lost Money Over the Last 7 Years, According to BIS Analysis
According to data from the Bank for International Settlements (BIS), published in the latest BIS Bulletin No. 69, researchers assessed that, on average, most users lost money on their investments over the past seven years. Onchain data, metrics from exchanges, and cryptocurrency application download statistics gathered by BIS researchers suggest that most median retail crypto … Read more
Trading on major exchanges spiked following collapse of Terra, FTX: BIS report
The report suggested that whales with Binance, FTX, and Coinbase “probably cashed out at the expense of smaller holders” by reducing their BTC stockpiles as retail investors bought. Go to Source Powered by WPeMatico
Many stablecoins fall short of coming regulatory recommendations, says FSB chair
The BIS-affiliated advisory body will release its final recommendations on global crypto asset regulation and supervision in July. Go to Source Powered by WPeMatico
BIS-funded regulator to probe DeFi entry points like stablecoins
Despite providing many novel services, DeFi does not differ substantially from traditional finance in its functions, the Financial Stability Board stated. Go to Source Powered by WPeMatico
BIS to launch stablecoin monitoring project and up focus on CBDC experiments
The bank for central banks is expanding its CBDC research while developing a platform to monitor stablecoin balance sheets. Go to Source Powered by WPeMatico
BIS Economists Recommend 3 Crypto Policies for Regulators Worldwide to Adopt
Economists at the Bank of International Settlements (BIS) have recommended three policies regulators worldwide could adopt in order to deal with the risks posed by cryptocurrencies. “Authorities can now consider a variety of policy approaches and at the same time work to improve the existing monetary system in the public interest,” they advised. BIS Economists … Read more
BIS economists suggest improving TradFi with CBDC to attract users away from crypto
The latest Bank of International Settlements bulletin looks at ways to mitigate the risks of crypto assets and suggests TradFi could get its house in better order too. Go to Source Powered by WPeMatico
Mexican CBDC Unlikely to Be Ready by 2024
The Mexican central bank digital currency (CBDC), the digital peso, is unlikely to be ready by 2024, as was announced back in 2021 by the Mexican government. In a statement, representatives from Banxico, the central bank of Mexico, stated the development of the currency was still in its initial stages, and there is still no … Read more
Central Banks to set standards on banks’ crypto exposure – BIS
The new standard limits crypto reserves among banks to 2% by 2025, and goes into effect on January 1, 2025. Go to Source Powered by WPeMatico