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BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks
24.6.2021
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...
BIS optimistic about central bank digital currencies
23.6.2021
The central bank of central banks says CBDCs are necessary for maintaining the status quo of the legacy financial system
Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador
13.6.2021
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...
Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks
12.6.2021
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.”...
BIS Official Insists Bitcoin Fails Means of Payment Test, Calls El Salvador’s BTC Law ‘Interesting Experiment’
11.6.2021
An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender...
Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector
11.6.2021
The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central...
El Salvador's Bitcoin adoption an 'interesting experiment,' says BIS exec
11.6.2021
El Salvador’s move to make Bitcoin legal tender in the country continues to elicit reactions from legacy finance gatekeepers, this time from the Bank for International Settlements
BIS joins France and Switzerland's central banks on cross-border CBDC project
10.6.2021
The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies
Fintechs Invited to Work on Georgia’s Central Bank Digital Currency
7.5.2021
National Bank of Georgia (NBG) has issued a call for companies in the fintech sector, financial institutions and technology firms to support its efforts to create a digital currency. Georgia’s central bank wants to employ new technologies to raise the efficiency of the country’s payment...
Bank of International Settlements Chief Says Cryptocurrencies Being Used to Evade Laws- Advocates for More Regulation
26.3.2021
Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used...
DeFi - CeFi Convergence & 'Explosive' Growth Are Coming - BIS Summit Panel
24.3.2021
Decentralized finance (DeFi) and centralized finance (CeFi) are heading towards convergence as we are entering a period of rapid development for DeFi applications worldwide, according to the participants of a panel discussion at this year’s BIS Innovation Summit, an event hosted by the Bank...
Bank of International Settlements head says cryptos require more regulation
24.3.2021
Agustín Carstens has called for cryptocurrencies to be subject to more regulations while arguing that virtual currencies have not made a significant dent in global finance
Fed Chairman Jerome Powell Says Bitcoin Is a Substitute for Gold
22.3.2021
Federal Reserve Chairman Jerome Powell sees cryptocurrency as a substitute for gold, rather than the dollar. However, he cautioned that crypto assets, including bitcoin, are highly volatile and not useful as a store of value. Fed Chair Sees Bitcoin as a Gold Substitute During a webinar sponsored...
BIS and SWIFT Intensify Race With Crypto For Cross-Border Payments
24.2.2021
Major players of the traditional financial industry are looking for new ways how to keep their positions, threatened by the emerging cryptoasset and decentralized finance (DeFi) industries.
The Bank for International Settlements’ Innovation Hub (BISIH) and the Society for Worldwide Interbank...
BIS Chief Banker Criticizes Bitcoin as Inherently Risky, Says BTC Vulnerable to 51% Attack
29.1.2021
Bank for International Settlements (BIS) general manager Agustin Carstens has criticized bitcoin saying the asset was inherently risky and “increasingly vulnerable” to a 51% attack. A long time bitcoin (BTC) skeptic, Carstens stressed that only central banks should be issuing digital...
Central banks must play ‘pivotal role’ in digital money, says BIS exec
28.1.2021
An exec at the Bank for International Settlements wants central banks to helm the evolution of digital money
Crypto Fans 'LOL' At BIS GM Claims that Bitcoin 'May Break Down'
28.1.2021
The crypto community has reacted with incredulity after a senior Mexican economist and the boss of the Bank for International Settlements (BIS) appeared to dismiss the notion of decentralized digital currencies such as bitcoin (BTC).
In a recent speech, Agustín Carstens, the General Manager of...
BIS Chief Blasts Bitcoin’s Viability, Prompting Blowback From Advocates
27.1.2021
Bitcoin maximalists cried foul at the central banker's prognostications
BIS: CBDC Research Gaining Steam but Widespread Issuance Years Away
27.1.2021
Central banks remained adamant cryptocurrency does not factor into their CBDC calculus
86% Of Surveyed Central Banks Now Engage In CBDC Work - BIS
27.1.2021
As the world’s central banks are increasingly looking into central bank digital currency (CBDC) projects, their focus is shifting into more advanced stages of CBDC engagement, with more banks moving from conceptual work to experimentation, according to a new report by the Bank for International...