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Bank for International Settlements Releases Executive Summary of Global Stablecoin Recommendations
1.3.2024
The Bank of International Settlements (BIS) has released its recommendations for the regulation, supervision, and oversight of global stablecoin arrangements, according to an executive summary published on February 29.
The post Bank for International Settlements Releases Executive Summary of Global...
BIS Warns Against Unregulated Metaverse: A Call to Prevent Fragmentation and Corporate Control
8.2.2024
The Bank of International Settlements (BIS) has published a report calling on regulators to “future proof” themselves against the adverse effects of an unregulated metaverse on the digital economy. The 31-page report warns that future money and virtual environments run the risk...
Transak Partners With Visa for Rapid Crypto to Fiat Conversion in 145 Nations
30.1.2024
On Tuesday, Transak, a company specializing in payment infrastructure, revealed its partnership with the financial services powerhouse Visa. This collaboration aims to empower users in 145 nations with the capability to seamlessly exchange their crypto holdings into local fiat currencies...
BIS Unveils 2024 CBDC Plans, Project ‘Aurum’ Enters New Phase
24.1.2024
Source: BIS The Bank of International Settlements (BIS) has unveiled that its central bank digital currency (CBDC) is entering a new phase this year. Dubbed ‘Aurum,’ the CBDC project will explore “the privacy of payments in retail CBDCs,” BIS noted. The announcement came Tuesday as a part of BIS’s...
Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies
14.12.2023
BIS building in Basel, Switzerland. Source: Adobe/doganmesut The Basel Committee for Banking Supervision (BCBS) wants to tighten rules to classify stablecoins as less risky assets than Bitcoin (BTC) and other unbacked cryptocurrencies. In a recent consultative paper, the international standard...
Central Banks Aren't Sufficiently Ready for CBDC Risks: BIS Report
30.11.2023
The introduction of central bank digital currencies could have major implications on the stability, the report said
BIS advises central banks to plan in advance for CBDC security
29.11.2023
From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider
Project Tourbillon: CBDCs Can Meet Privacy Requirements, BIS Research Reveals
29.11.2023
Source: AdobeStock / Proxima Studio The Bank for International Settlement (BIS) has released the final report on Project Tourbillion, its privacy-inclined Central Bank Digital Currency (CBDC) project. A Nov 29 release shows a pathway to achieving privacy standards in CBDC deployment and usage with...
BIS Innovation Hub presents its ‘private CBDC’ project
29.11.2023
The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms
Central Bank Project Shows CBDC Payments Can Be Private
29.11.2023
The project is a first step in exploring privacy, security and scalability for central bank digital currency design, a report on the BIS initiative said
Central Banks Have No Interest in Personal Data, BIS Official Says While Promoting CBDCs
28.11.2023
The Bank for International Settlements has been calling on countries to prepare for CBDCs as governments face backlash over privacy concerns
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...
South Korea to invite 100,000 citizens to test CBDC in 2024
23.11.2023
Participants will be restricted to using the CBDC only for payment, without an option to store, exchange, or send it to other users
Top Global Banks Reveal $10.27 Billion in Crypto, XRP Among Top Investment
21.11.2023
Source: Adobe Major global central banks, spanning Europe, North America, and other regions, have revealed a significant investment in crypto, with XRP emerging as a preferred digital asset. According to the Basel Committee on Banking Supervision (BCBS), a global regulatory authority on banks,...
‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS
17.11.2023
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option
CBDCs Like a Digital Dollar Face Doubts Without Privacy Protections, Key Organization Finds
17.11.2023
A study found that privacy increases participants’ willingness to use a CBDC by up to 60% when purchasing privacy-sensitive products
IMF head: CBDCs can replace cash, help financial inclusion
15.11.2023
International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies
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