Stablecoins
Digital money and central banks
Central banks must reflect on the monetary policy, regulatory and financial stability implications from crypto assets, stablecoins and CBDCs to stay relevant in the digital age of money
Markus Brunnermeier on the need for CBDCs
The Princeton academic co-authored a paper for the European Parliament exploring the potential pitfalls of CBDCs. But they are still needed, he says
Stablecoin risks raise need for CBDC research – Brainard
ECB’s Panetta says “stablecoins are not money”, as Brainard weighs CBDC as possible alternative
FSB warns of rising crypto asset risks
Sector could harm global financial stability if it carries on growing at current rate, FSB says
Payments efficiency is driving force behind many CBDCs
Inclusion, financial stability and monetary policy are also leading factors
Fed paper explores stablecoins’ impact on financial system
Researchers say stablecoins could be a ‘digital safe haven’ during volatility, but design choices matter
Diem confirms sale of stablecoin technology
Facebook-backed project sold its last remaining assets to Silvergate Capital
Facebook-backed stablecoin project to wind down, report says
Project formerly known as Libra had struggled to gain regulatory approval
Central banks essential to preserve trust in money – Carstens
Companies may fragment monetary system through competing stablecoins, warns BIS chief
Podcast: an update on the e-naira project
Bitt’s Imran Khan explains how its project in Nigeria is different to CBDC projects launched before
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
Eurosystem approves new payments oversight framework
‘Pisa’ principles will cover stablecoins, e-wallets and other payments arrangements, ECB says
RBA stepping up CBDC research despite scepticism over use
Australian central bank is concerned private sector firms could dominate payments sector
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
Time to ‘future-proof’ central banks – Sibos panel
Central bankers prepare for CBDC issuance as stablecoin threat eases
Podcast: Fintech and the question of central bank autonomy
Central banks should ensure their fintech activities do not undermine transparency and independence, say Wouter Bossu and Arthur Rossi
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says