Tokenisation
Taiwan’s Yang says central bank money remains global ‘anchor’
Governor says it is still ‘ultimate settlement asset’, notwithstanding development of tokenisation
Stablecoins should be tightly regulated – HSBC exec
John O’Neill says lender’s views on the assets are aligned with those of central banks
Tariffs will not solve US ‘twin deficits’, BdF governor says
Villeroy de Galhau wants to maintain spirit of transatlantic co-operation despite disagreements
Swift to build blockchain-based global payments infrastructure
Partnership with 30 banks will be ‘pivotal’ for global finance, payments messaging network says
IMF study outlines ‘optimal policy’ for tokenisation
Researchers recommend interoperability mandates and public-private cost-sharing
Non-dollar stablecoins could spur greenback’s decline – BdF deputy
Central banks should embrace, not oppose, financial innovation, Bénassy-Quéré argues
A not-so-stable Genius Act?
New stablecoin rules raise monetary sovereignty and financial stability concerns
Ex-BIS research head backs tokenised deposits over stablecoins
Tokenisation is the “truly transformative innovation”, argue Cecchetti and Schoenholtz
Crypto has accelerated CBDC work – BIS survey
Developing and emerging economies more likely to make retail CBDC available on distributed ledgers
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
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’
Barr slams weakening of bank supervisory tests
Fed governor warns deregulation during boom times ushers in crises
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
Tokenised MMF market ‘small’ but could create contagion – BdF
French central bank calls for international co-operation to regulate new assets
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
Central banks value tokenisation for efficiency and security
Respondents see less value in crypto or stablecoin payments
Dollar stablecoins would reintroduce credit risk – Cipollone
ECB board member makes renewed case for digital euro, announces collateral management system
NY Fed and BIS explore monetary policy in a tokenised world
Project Pine’s smart contracts are designed so central banks can adapt them to their currencies and frameworks
US banks create ‘new payment rail’ with tokenised deposits
Custodia and Vantage launch what they say is first tokenisation of a dollar demand deposit
Central banks ‘too slow’ on wholesale CBDCs, industry says
Report emphasises need for greater public-private collaboration and unified definition
Banknotes: October to December 2024
A round-up of news and salient issues that have affected central bankers in the past three months