Fintech
Quantum computing: ready for prime time?
Central banks should add QC to their strategic planning, despite it being a work in progress
Vietnam developing crypto legal framework
Country banned crypto as a means of payment in 2017
China expands e-yuan pilot
Beijing to trail use of central bank digital currency outside of Olympic Games centres
Project Ellipse: real-time data and the ‘art of the possible’
BIS’s Andrew McCormack and MAS’s Kenneth Gay talk about phase two of the suptech project
BoE partners with MIT on CBDC
Bank of Canada and the Boston Fed have also teamed up with MIT on research projects
Thailand’s SEC bans crypto payments
BoT proposes limits on banks’ digital asset investments
Reserve Bank of India launches innovation hub
Central bank subsidiary tasked with “accelerating innovation” across the financial sector
Fintech Benchmarks 2022 – executive summary
Intelligence on internal fintech challenges at central banks as they contend with the fast-paced industry
Project Dunbar raises ‘more questions than answers’
BIS’s multi-CBDC project focused on qualitative benefits and trialled small-scale cross-border transfers
Central bankers see ‘potential’ in stablecoins
But John Williams, Cecilia Skingsley and Perry Warjiyo warn such systems must be better regulated
UK regulators warn crypto firms not to breach sanctions
Crypto asset firms risk breaking law if they fail to enforce sanctions on Russia
Brazilian central bank overhauls fintech regulation
Central bank took inspiration from Basel III with phased introduction of regulations for payment firms
PBoC to fine Tencent over AML breaches, report says
Nationwide crackdown on money laundering announced in January
Biden orders CBDC report from Fed and other agencies
Report must advise on how possible CBDC would affect US security and sovereignty
Fintech Benchmarks 2022 report – facing the tech test
Intelligence on internal fintech challenges at central banks as they contend with the fast-paced industry
Digital money and central banks
Monetary policy, regulatory and financial stability focus needed to stay relevant
Markus Brunnermeier on the need for CBDCs
The Princeton academic says public digital currencies face pitfalls but are still needed
Majority of central banks do not issue fintech licences
Lower-middle income jurisdictions more likely to issue licences than richer nations
Brazil moves forward with crypto legislation
Economic committee votes to give the central bank new regulatory powers
Many central banks have a fintech strategy
Over half of respondents have a dedicated fintech team
Privacy and security are greatest cloud concerns
Cloud environments tend to be public and hybrid with cross-border elements
SQL, Python and R top requirements for data scientists
Other staff may perform similar data analysis tasks
Data quality and staff skills are greatest AI challenges – benchmark respondents
Privacy and algorithmic fairness are also concerns
Half of fintech benchmarks respondents use AI/ML tools
Richer nations more likely to use artificial intelligence