Fintech
Agustín Carstens on BIS strategic priorities, innovation and central bank policy
BIS chief speaks about policy trade-offs at a critical time, tech collaboration, tackling NBFIs and the dearth of ‘green’ assets
PBoC’s digital yuan on track for 2022 Winter Olympic debut
Preparations for e-yuan to be used in the winter games are at a final stage, says deputy governor
PBoC tells payment firms to cut ties to other business lines
Governor’s speech follows reported crackdown on China’s Ant Group
Vietnamese government tells central bank to draft fintech rules
Move follows central bank warnings of dangers posed by unregulated fintech sector
RBNZ served ‘compliance notice’ after cyber attack
Privacy commissioner concerned by possible “systemic weakness” in central bank’s cyber defences
Do central banks have enough resources to meet tech challenge?
Accelerating technological evolution, difficulties to access and retain technical staff and limited resources will present growing challenges for central banks in the future
Cœuré issues urgent call for CBDC development
Central banks have no time to waste, says BIS official, as crypto and stablecoins threaten disruption
BoE permits cloud usage to support ISO 20022 migration
Cloud usage must be “controlled” and not risk wider payments ecosystem, BoE report says
MAS demands crypto exchange Binance cease operations
Move came after UK’s FCA said firm failed to provide sufficient supervisory information
BIS to work on cross-border CBDC test with four central banks
Australia, Singapore, South Africa and Malaysia will help create shared DLT platforms
Haldane warns against blind trust in AIs
AI systems should not be used for autonomous supervision, says former BoE chief economist
DCash: motivations, challenges, and lessons from the first monetary union CBDC pilot
Having worked on its Digital Currency Management System since 2016, Bitt has launched the first synthetic CBDC in Barbados, followed by another first in the Eastern Caribbean Currency Union in March this year, with more ahead
Digital yuan project should rethink anonymity, paper urges
Scholars argue CBDC “wallets” ought to be under full control of retail users
Book notes: Fintech regulation in China, by Robin Hui Huang
Book includes meticulous exploration of detailed regulations across Chinese fintech sector, but risks missing bigger picture
Real-time payment systems for the real world
ACI Worldwide has joined forces with Mastercard to create a unique partnership capable of leading the world towards advancing the on-demand economy through payment system modernisation.
Bank of Ghana to pilot CBDC using G+D technology
Central bank says prototype would operate without bank account, contract or smartphone
Viruses of a different kind: bolstering central bank IT frameworks
Remote working on a large scale had never been done before, but central banks appear to have successfully adapted IT and cyber frameworks
Jamaica ‘mints’ first units of digital currency
Central bank kicks off pilot exercise with limited issuance of currency to banks and payments firms
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
The six key drivers for digital currency
Dave Birch breaks down the forces that are pushing central banks towards CBDC
MAS grants first crypto exchange licence
Central banks taking divergent approaches to scrutiny of crypto firms
Big techs should be assessed for systemic importance – BIS
Safeguards needed to guarantee operational resilience of financial system
DLT handles major transaction volume in digital euro experiment
Test processed 300,000 payments simultaneously; carbon footprint smaller than current card payments
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line