Fintech
US lawmakers slam Facebook’s ‘delusional’ Libra plan
Libra executive grilled at US hearing over Facebook’s history of scandals
E-money poses serious threats to financial system, says IMF paper
Paper recommends a ‘synthetic CBDC’ to preserve financial stability
Trump lashes out at Libra
US president says Facebook’s system will need a banking licence if it wants to be a bank
Are central bank digital currencies inevitable?
Launching a CBDC could protect the pre-eminence of public money, a new report argues
PBoC gets go-ahead from China’s cabinet to develop CBDC
China’s central bank is developing its own CBDC, as officials voice concerns over Facebook’s Libra
PBoC sounds alarm over Facebook’s Libra
Central banks must keep control of Facebook currency, senior officials say
FCA proposes ban on sale of crypto derivatives to consumers
Regulator cites lack of understanding of crypto assets by consumers
CBDCs could protect citizens from e-currency abuse, official says
Citizens in cashless societies could be vulnerable to monopoly power, says Sveriges Riksbank official
IMF: some central banks ‘on the verge’ of piloting CBDCs
IMF survey also highlights need for greater co-operation on fintech regulation
De Galhau unveils G7 task force on ‘stablecoins’
Banque de France governor says group will weigh up impact of Libra and other “stable” crypto assets
Sandboxes do not solve all fintech problems, says academic
Regulatory sandboxes will face challenges in cross-border cooperation, says Brian Knight
BoE’s Kashyap warns banks vulnerable to state-sponsored cyber attacks
FPC member says he is not sure banks are capable of defending themselves
Regulators prepare response to Facebook’s Libra
Plans under way for G7 working group, as crypto asset plans draw criticism in Europe and US
Facebook unveils new ‘currency’
Social media group says it plans to “reinvent money” with payment system backed by liquid reserves
UK and Singapore to collaborate on cyber security
BoE, FCA and MAS say they will investigate ways to share information and potentially staff
CBDC could raise bank funding costs – Philadelphia Fed
Choosing an appropriate interest rate could help alleviate problem, say researchers