Regulation
Fed spurns Custodia a second time
Central bank again denies membership application from Wyoming crypto firm
Cloud used for business continuity and advancing computation
Most institutions rely on third parties for services
Retail CBDC work more common than wholesale
Most jurisdictions still lack a legal mandate to issue a CBDC
PBoC releases draft rules for Swap Connect
Foreign access to onshore CNY swaps limited to interbank bond market users, while Isda docs aren’t ruled out
Central banks are bullish on environmental features of CBDC
A minority of respondents’ jurisdictions prohibit crypto assets
China revamps risk exposure rules for commercial banks
New rules aim to improve banks’ risk measurement and reflect size differences, regulators say
Improving payments efficiency drives wholesale CBDC work
Advanced economy institutions lead efforts
Richer nations more likely to have regtech strategy
Regtech tools commonly used for risk assessment
BoT’s Sethaput on inflation dynamics, central bank mandates and multi-lateral payments
The Bank of Thailand governor speaks with Christopher Jeffery about the trend towards higher inflation, the sustainable finance challenge, experiments with CBDCs and governance issues related to multi-lateral payments
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
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
Half of central bank respondents have a fintech strategy
Most strategies cover the external payments ecosystem and internal fintech development
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
Panama president sends crypto law to supreme court
Measure to create legal framework for crypto has twice passed legislature
UK prepares to regulate crypto sector
Government wants to “capitalise” on benefits of crypto assets while controlling the risks
Fed moves to ban state banks from holding crypto as principal
Supervisors outline plan for “level playing field” between state and national banks
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
RBI’s Das calls for more work on financial market development
Development has proceeded at “unprecedented pace” despite series of crises, governor says
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs