Fintech
Improving payments efficiency drives wholesale CBDC work
Advanced economy institutions lead efforts
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions
Richer nations more likely to have regtech strategy
Regtech tools commonly used for risk assessment
FSB outlines crypto and defi risks to financial stability
Future work will map “oracles”, “bridges” and other links with traditional finance
Bank of Japan to start CBDC pilot in April
Central bank presses ahead with designing a general purpose CBDC
Laotian central bank launches CBDC pilot
Bank of the Lao PDR working with Japanese government and fintech firm to test CBDC
Innovation hubs more common in advanced economies
Sandboxes remain most popular fintech initiative
Two in five central banks report having a suptech strategy
Enhancing efficiency is a key driver
One in five fintechs in Ireland send inaccurate returns to regulator
One in four reported deficiencies in safeguarding customers’ funds
UAE plans to launch CBDC by 2026
Fintech strategy aims for cashless society through digital transformation
EME central banks more likely to license fintech firms
Most institutions choose activity-based approach over other licensing methods
Payment innovation is top priority for fintech research
CBDCs and suptech are also leading focus areas for development
Bitcoin price does not respond to market signals – paper
Researchers find cryptocurrency value “orthogonal” to most economic indicators
Half of central bank respondents have a fintech strategy
Most strategies cover the external payments ecosystem and internal fintech development
Crypto ‘mixer’ regulation could be simple – Fed research
Counterparties could be obliged to follow similar rules as for cash
Current regulation ‘not fully fit’ to handle big tech – Carstens
BIS chief offers ideas for new regulatory framework to govern data-focused platforms
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
Digital pound would help resist ‘walled gardens’ – BoE’s Cunliffe
Tech firms may be able to quickly gain payments dominance, which a CBDC could break
BIS developing ‘Pyxtrial’ for systemic stablecoin monitoring
London Innovation Hub centre will investigate balance sheets and asset-liability mismatches
BoE launches design phase of ‘digital pound’ project
UK likely to issue central bank digital currency as anchor for monetary sovereignty
Panama president sends crypto law to supreme court
Measure to create legal framework for crypto has twice passed legislature
Ransomware threat on the rise, says Boston Fed IT chief
Automation and AI could boost response times and ease staffing pressures
Fed deals double blow to crypto bank
Wyoming-based Custodia turned down for Fed membership and master account
DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration