US and China advance rival digital asset policies
US bans retail CBDCs until 2030, while PBoC official calls for co-ordinated stablecoin regs
Financial authorities in the US and China have advanced rival digital assets policies as both countries battle to increase global use of their currencies.
The US on June 18 moved forward with implementing the Guiding and Establishing National Innovation for US Stablecoins (Genius) Act, when the Federal Reserve issued joint proposals for a stablecoin customer identification programme.
The Fed – together with other financial authorities, including the Treasury and the Financial Crimes Enforcement
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: www.centralbanking.com/subscriptions
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Fintech
Central banks must not outsource critical thinking to AI – panel
As uses for the tools proliferate, central bankers weigh up how to use them safely and ethically
Tokenisation poses monetary operations challenges – panel
Officials tell Central Banking London Meetings that 24/7 markets can bring new dilemmas
Working group minutes: from AI adoption to integration
Central banks are trialling diverse use cases, but many have yet to fully embed the tech in their work
Agility is small markets’ strength, says Latvian deputy governor
Nimble central banks should be ‘laboratories’ for innovation, Purgaile tells Central Banking London Meetings
Working group minutes: tokenised platforms vs synchronisation
Central bankers weigh up merits of emerging technologies and debate stablecoin use cases
Stablecoins’ systemic risks must be monitored, says Kashkari
Providers incentivised to invest in risky assets as they search for yield, Minneapolis Fed chief says
Central banks complete cross-border open finance prototype
BIS-led initiative connects systems of Brazil, Hong Kong, India, UK and UAE
Don’t kill stablecoins by over-regulating them – Fed’s Waller
Digital assets will foster competition in payments and broaden US monetary sovereignty, governor says