Fintech
Bénédicte Nolens on the latest mBridge developments
The head of the Bank for International Settlements’ Hong Kong Centre speaks about cross-border CBDC governance, ongoing FX challenges and evolving technology
BIS releases guide to tackle ‘complex’ offline CBDC design
Trade-offs include privacy and security to meet jurisdiction-specific objectives
World Bank issues first digital bonds on Euroclear’s platform
Distributed ledger technology has potential to improve securities processing
Decentralised finance has outpaced regulation – ECB paper
Technology with ‘no legal personality’ poses financial stability risks
US Treasury division proposes crypto mixer regulation
Proposals target terrorism financing after Office of Foreign Assets Control sanctions Hamas
Stablecoins more vulnerable to runs, say Fed researchers
Authors point out similarities with MMFs and warn about financial instability risks
DeFi could improve payments and settlement – BoC research
Inefficient legacy systems hamper the smooth completion of these operations
Global big tech regulation needed, says BIS paper
Researchers advocate for an activity-based approach as big tech overtakes fintech in some economies
Central Bank of UAE launches new 24/7 instant payments system
Immediate Payment Instructions launched in 2019 gained limited traction
Australia proposes crypto regulation reforms
Platform operators would need a licence and be subject to financial services laws
Cross-border CBDC challenging to deliver, officials warn
But digital currency could tackle “extremely high” remittance costs, says IMF’s Tobias Adrian
Fed watchdog says supervisors could have stopped Silvergate
Failed California bank should have required permission for switch into cryptocurrency
BIS Innovation Hub takes aim at cross-border compliance
Project Mandala will explore ‘compliance by design’ to boost efficiency of cross-border transactions
BIS project maps ‘vast and complex’ global crypto network
Project Atlas uses diverse data to allow central banks to track cross-border flows
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
BIS wraps up cross-border CBDC trial
Project Mariana explored FX settlement using ‘automated market-makers’
Carstens says lack of legal clarity on CBDC ‘unacceptable’
BIS chief warns widespread uncertainty over legal status of digital currency could impact trust
Hong Kong regulator to publish more crypto information
Securities and Futures Commission reverses stance amid police investigation into crypto exchange
Barr says Fed will not issue CBDC without legislation
Supervision chief warns of danger of unregulated issuance of stablecoins
RBI’s CBDC pilot has 1.5 million users, says Das
Governor says project is aiming to reach one million daily transactions by December