IOSCO demands tighter scrutiny over the ‘finfluencers’
The International Organization of Securities Commissions proposed a set of new measures to address increasing risks in digital marketing. Go to Source Powered by WPeMatico
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China, Hong Kong, Thailand, and UAE Trial Cross-Border Transactions With Digital Currencies
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital … Read more
Israel, Norway and Sweden central banks partner with BIS to explore CBDC
The Project Icebreaker initiative aimed to improve cross-border payments by reducing costs and increasing speed and transparency, with a final report expected in Q1 2023. Go to Source Powered by WPeMatico
BIS marks CBDC pilot as ‘successful’ with $22M transacted
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part. Go to Source Powered by WPeMatico
Crypto’s adaptability, openness key to ideal monetary system, say BIS execs
Some of the biggest flaws preventing present-day cryptocurrencies from mainstream adoption, pointed out by the BIS execs, are bottleneck congestion in DeFi and the reliance on volatile assets. Go to Source Powered by WPeMatico
BIS committee and IOSCO issue guidance for regulation of stablecoin arrangements
The international organizations affirm the “same risk, same regulation” principle by extending decade-old rules to the rapidly expanding new financial technology. Go to Source Powered by WPeMatico
G20 regulator to present global crypto rules in October 2022
The FSB seems more concerned with the crypto market given its recent turmoil and the “increasing interconnectedness with the traditional financial system.” Go to Source Powered by WPeMatico
Not the best week for crypto lending: Law Decoded, June 20-27
The Celsium failure continues to draw attention to the lending issues from regulators and community. Go to Source Powered by WPeMatico
Crypto resonates better with BIS’ vision of ideal monetary system
The report awarded points to the fiat ecosystem for the safety and stability policy while highlighting that “Public oversight has helped achieve safe and robust payment systems.” Go to Source Powered by WPeMatico
BIS: 90% of Central Banks are researching the utility of CBDCs
The institution’s future monetary vision includes exploring innovations grounded in trust in central banks’ stable sovereign currencies and safe payment systems. Go to Source Powered by WPeMatico
