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Exploring the Privacy Concerns Around CBDCs
23.1.2024
The future of money is digital and many countries are developing their own Central Bank Digital Currencies (CBDC). This in turn will have far-reaching implications on society, businesses, and banks, as the use of physical cash declines. Retail CBDCs are government-backed digital fiat money which...
Russia’s Exved Launches Cross-Border Payment Service Powered By Tether’s USDT Stablecoin
7.12.2023
Source: Adobe Russian digital settlement exchange Exved has officially debuted with the goal of empowering local legal entities to conduct cross-border digital payment services using Tether’s USDT. Russia's Exved platform launches as one of the first cross-border payment solutions...
BIS General Manager Agustin Carstens Touts Tokenization as Part of the Future Financial System
25.11.2023
Agustin Carstens, general manager of the Bank for International Settlements (BIS), has discussed tokenization’s significance in modernizing the current siloed financial system. Carstens stated that only through tokenization can the world move to a more interconnected and programmable...
BIS Research Report: Stablecoins Not Secure as Store of Value
9.11.2023
Stablecoins. Source: Adobe / Grispb Fiat-backed stablecoins are “not a safe store of value,” according to a new research report from the Bank for International Settlements (BIS). According to the report, the BIS found that from January 2019 to September 2023, fiat-backed stablecoins were able...
BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’
8.11.2023
In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations. While Challenges Remain,...
Stablecoins 'not a safe store of value': BIS
8.11.2023
"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
Banks Must Disclose Crypto Exposures, Global Regulator Says
17.10.2023
The guidance will ensure transparency and market discipline, the Basel Committee on Banking Supervision said
Bank of Korea and BIS Prepare Wholesale CBDC Pilot
7.10.2023
The Bank of Korea and the Bank for International Settlements (BIS) have announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies...
Banks Would Have to Disclose Crypto Holdings Under New BIS Plan
5.10.2023
The Basel Committee on Banking Supervision previously recommended swingeing capital constraints on holdings of unbacked cryptocurrency
Project Atlas: Bank for International Settlements Tackles Crypto Tracking with EU Central Banks – Here's the Latest
4.10.2023
The Bank for International Settlements (BIS) and four European central banks have rolled out a Proof-of-Concept (PoC) system to track the global flow of cryptocurrency assets.
The partnership with the BIS was struck with the European Central Bank, Banque de France, Deutsche Bundesbank...
Central Bank Group Unveils Data Project Mapping Crypto Transfers
4.10.2023
The new data source, which also maps off-chain flows, could underpin future crypto regulations, according to the German-Dutch central bank project
Hong Kong-Israel CBDC Project Examines Security, Privacy, Accessibility
12.9.2023
Central banks say their new technology can be secure and accessible while promoting privacy
Dollar Share in Reserves Drops Below 60%, Yuan Rises, Russian Diplomat Says
2.9.2023
The share of currencies other than the U.S. dollar and the euro in international reserves is on the rise, according to a Russian representative. The trend is being observed as a growing number of countries try to use their national currencies in foreign trade settlements, the official noted. Russia...
Crypto’s ‘Illusory Appeal’ Should Be Met by Regulation, Not Bans, BIS Study Says
22.8.2023
Bitcoin ETFs could boost adoption because digital assets offer an escape route for state-imposed capital controls, a grouping of central bankers from the Americas said
Latam Insights — Argentina to Complete IMF Payment With Chinese Yuan, Bolivia Also Using China’s Currency for International Settlements
31.7.2023
Welcome to Latam Insights, a compendium of Latin America’s most relevant crypto and economic news during the last week. In this issue, Argentina is likely to settle part of a payment to the International Monetary Fund (IMF) using the Chinese yuan, Bolivia is already making payments using...
Bolivian Central Bank Using Chinese Yuan for International Settlements
28.7.2023
Economy Minister Marcelo Montenegro acknowledged that the Bolivian Central Bank is harnessing the Chinese yuan in its commercial settlements. The switch to using the Chinese currency has to do with the dollar scarcity that the country is facing, having to approve a law to sell part of its gold...
BIS Report Cites ‘Inherent Limitations’ of Cryptocurrencies; Questions Their Role in Global Economy
13.7.2023
The Bank of International Settlements (BIS) has published a report on cryptocurrencies and explains that the technology has serious “flaws.” BIS researchers insist that permissionless blockchains have “inherent limitations” that lead to network congestion and high fees. BIS Report: ‘Crypto Has...
Bank for International Settlements Rejects Crypto as Money in Report to G20
12.7.2023
A new report from the Bank for International Settlements (BIS) has pointed to “inherent structural flaws” in crypto as the reason why it will never become money.
In the report, the BIS made it clear that it believes crypto has problems related to its “stability and efficiency,” while also...
Central Banks Controlling Money Is Not Democracy, Balaji Srinivasan Says
12.7.2023
If central banks control all uses of money, this is not democracy, Coinbase’s ex-tech chief Balaji Srinivasan is convinced. The entrepreneur commented on statements by the head of the Bank of International Settlements during an IMF meeting devoted to cross-border payments. Balaji Srinivasan Speaks...
BIS Survey: 93% of the World’s Central Banks Are Engaged in CBDC Work
12.7.2023
The Bank for International Settlements (BIS), an organization that seeks to support the international cooperation of the world’s central banks, has released the results of its 2022 survey on central bank digital currencies (CBDC) and crypto. The survey found that 93% of the 86 banks surveyed...