Stablecoins
BIS: the future of money is not crypto
Hyun Song Shin lays out vision of payments innovation backed by CBDC
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems
Book notes: The future of money, by Eswar S Prasad
Prasad’s book is the best on the topic so far, providing the most complete description of issues and factors that will shape the future of money
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Digital euro could be reality by 2026 – ECB’s Panetta
ECB will step up engagement with authorities and investigate means of issuing CBDC
Yellen calls for new stablecoin regulation amid algorithmic crash
Terra, a leading stablecoin, lost its dollar peg as several crypto-assets fell
Fed warns on crypto risks as major stablecoin breaks peg
CBDC could help protect against risks from crypto assets including stablecoins, Fed says
HKMA advances e-HKD exploration
Authority notes risks around cyber security and removing intermediary banks
Stablecoins revive US narrow banking debate
Legislators suggest simplified bank rules to regulate issuers, but Federal Reserve is cautious
IMF panel weighs up wholesale versus retail CBDC
Officials reflect on trade-offs involved in crypto assets and new payments technology
Systemic stablecoins may not need ‘bank-style’ resolution – BoE
Non-bank stablecoins set for “tailored” regulatory regime under plans by UK policy-makers
Central bankers see ‘potential’ in stablecoins
But John Williams, Cecilia Skingsley and Perry Warjiyo warn such systems must be better regulated
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