Crypto Assets
ECB’s Cœuré weighs stablecoin risks
Executive board member calls for improved global payment systems, while preserving global policy priorities
Regulators meet in Basel to grill stablecoin backers
Conference convened by G7 stablecoins group included Libra Association, Fnality and JP Morgan
DNB to start supervising crypto-asset firms
New powers result from the implementation of an EU directive tackling anti-money laundering
Central banks need better crypto asset data to contain risk – ECB research
Links between crypto assets and regulated financial sector may increase and challenge regulatory frameworks
Ripple attempts to pacify US regulators after libra hearings
Payments service provider says crypto assets would be complementary to dollar
Do stablecoins like libra differ from other crypto assets?
Sayuri Shirai assesses the implications of stablecoins for stability, monetary policy and regulation
Quant Lipton pans Facebook’s Libra
Former Bank of America exec sees more potential in rival projects, such as utility settlement coin
Bundesbank takes light-touch approach to Libra
Governments should be “neutral” on some digital currencies, says German central bank
St Louis Fed’s Bullard warns about rise of multicurrency systems
Crypto assets may hamper monetary policy transmission and increase exchange rate volatility
US lawmakers slam Facebook’s ‘delusional’ Libra plan
Libra executive grilled at US hearing over Facebook’s history of scandals
Trump lashes out at Libra
US president says Facebook’s system will need a banking licence if it wants to be a bank
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
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
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
Regulators must do more to assess risk of crypto assets, says FSB
FSB members differ on how to tackle international co-ordination
Crypto assets have little impact on monetary policy, says ECB team
Task force concludes crypto assets do not fulfil functions of money
Draghi dismisses crypto assets
ECB head describes bitcoin as “very, very risky”
Bank of Samoa warns of crypto asset con
The Ponzi scheme is apparently spreading via churches
Basel Committee clarifies ‘expectations’ on crypto
Banks must meet certain minimum standards if they want to trade crypto assets
Bank of Spain paper rejects bitcoin as alternative to large-scale payment system
Objectives of crypto asset make it unsatisfactory as a payment network – research
US sanctions on Venezuela could be death knell for petro
Crypto asset is backed by oil reserves the country can barely commercialise
Book notes: Democratizing Money?, by Beat Weber
This is a timely book about ‘how money really works’