Digital currency
Kazakhstan launches tenge-pegged stablecoin pilot
Project is latest initiative to integrate digital assets into country’s financial system
IMF study outlines ‘optimal policy’ for tokenisation
Researchers recommend interoperability mandates and public-private cost-sharing
Stablecoins pose bigger risks to US than to EU – de Guindos
ECB vice-president also expresses hope that “populist movements in Europe do not prevail”
Be proactive on AI and quantum, Riksbank deputy says
Authorities should collaborate despite geopolitical tensions, says Aino Bunge
ECB’s Cipollone reveals plans for digital euro infrastructure
Mobile app to enable “basic functionality”, with transactions processed in three different regions
South Korea planning to revive paused CBDC programme
Bank of Korea’s Rhee says CBDC may be used to distribute government subsidies
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Dutch merchants say digital euro is good if it works offline
DNB study finds vendors wary of costs, wanting “equal or lower” fees compared with existing options
Crypto has accelerated CBDC work – BIS survey
Developing and emerging economies more likely to make retail CBDC available on distributed ledgers
China to discuss stablecoins at cabinet level – report
Experts say allowing stablecoin issuance in mainland China unlikely to speed up yuan internationalisation
The cost of inaction on wholesale CBDCs
A gap exists between demand in capital markets and most central banks’ research priorities as evolving risks accrue
BoK governor expresses confidence in finance minister
Rhee’s comments follow apparent discord between bank and government over digital assets policy
The foundations of sovereign finance are quietly evolving
Digital settlement infrastructure is taking shape. Now SSA issuers must decide how, not whether, to participate, argues Domenico Nardelli
HKMA stablecoin regulations take effect amid ‘market euphoria’
Markets eye further gains as Hong Kong’s de facto central bank tries to damp down ‘bubble-like trend’
Central banks’ CBDC sentiment can prove contagious – BIS study
Authors say Fed and ECB’s positions on digital assets affect how the currencies are perceived elsewhere
HKMA chief tries to temper stablecoin expectations
Yue says territory’s regulations will be tight and short-term profitability for first issuers is not guaranteed
Book notes: Beyond banks, by Dan Awrey
The book proposes thoughtful reforms to establish the same reliability for new monetary IOUs as currently exists for bank IOUs
Book notes: Central banking at the frontier, by Thammarak Moenjak
This well-structured book provides a comprehensive overview of the challenges digitalisation poses for finance and includes possible actions for central banks
Economist flags stability risks if Genius Act becomes law
Runs on stablecoins could spill over to traditional financial markets, warns Barry Eichengreen
Bailey ‘remains to be convinced’ about retail CBDCs
BoE governor adds that stablecoins must “pass the test of singleness of money”
Regulatory confusion hinders euro stablecoins, says DRW founder
Conflicting interpretations of EU rules will divert more capital away from euro assets, says Don Wilson
BoK expresses ‘grave concern’ over Korean economy
Governor says stimulus needed, but cautions against expecting too much from rate cuts
A fireside chat with BIS head Agustín Carstens
The lifetime achievement award-winner speaks with Chris Jeffery about how experiencing inflation shaped his career, gaps in economic theory and macro-pru governance, the future of money and the importance of international co-operation
Innovation must not erode basics of money – BoT governor
Digital tokens untethered to central banks are not the future of money, claims Sethaput