Fintech
Digital currencies could transform the role of central banks – Chilean governor
Marcel is wary of developments with CBDCs, but believes they are still a long way off; he urges central banks to keep pace with fintech innovation
Sarb denies fintech firms have joined ‘sandbox’
South African central bank denies claims a blockchain start-up has been accepted into the scheme, as it does not currently exist; a working group is in discussions on feasibility
Fintech not an ‘immediate threat’ to monetary policy – paper
Research from the Bank of Canada explores the impact fintech could have on central banks’ responsibilities, deeming it “too early to judge” the effect on mandates
Belarus turns to blockchain for information sharing
Central bank uses technology for new information sharing network with plans to deploy the tech to other areas, including securities market
BoE distributed ledger project delivers cross-border payments success
Bank of England completes transactions across two RTGS networks using Ripple’s DLT solution; issues remain on how tech could be adapted for wholesale payments
Macedonia’s Kadievska: DLT could ‘completely replace’ some intermediaries
Maja Kadievska analyses the pros and cons of distributed ledger technology, noting it could have the power to cause disruption to existing financial market infrastructure
WEF report calls for global standards on blockchain
Authors say it is time for ‘global action’ in fostering fintech innovation; task forces need to be created to create global standards, while funding should be provided to help research
FSB builds analytical framework to tackle fintech risks
Report defines “technology neutral” method of classifying fintech firms, helping to pin down potential costs and benefits
EBA calls for tighter money-laundering curbs on crowdfunding
EC should make consumer protection a “key” part of its fintech approach, the EBA says
FCA regulatory sandbox success paves way for new firms to enter
UK regulator to accept 24 firms for sandbox testing in second phase; first cohort has completed six-month testing period and will be reviewed before “transitioning”
Israeli survey highlights benefits from ‘digital revolution’
“Tremendous changes” in the banking system are likely to benefit households and small businesses, the central bank says, while stability is also improving
BIS report points to benefits and costs of fintech lending
China, the US and the UK are the three largest markets, the working group’s report says