Tags: BIS

The digital tenge has been used for everything from free school lunches to tokenizing gold, and there’s more to come.

Basel Banking Committee Proposes Stricter Guidelines to Classify Stablecoin as Less Risky Than Unbacked Cryptocurrencies

Should longer-term assets be allowed as reserve assets, the committee thinks these must overcollateralize the claims of stablecoin holders.

Project Tourbillon: CBDCs Can Meet Privacy Requirements, BIS Research Reveals

From legal issues to hackers, launching a CBDC is fraught with risks, and BIS has a big list of them to consider.

The Bank for International Settlement’s Project Tourbillon features two eCash prototypes, the first providing “unconditional payer anonymity” and the second being “more resilient” in security terms.

Participants will be restricted to using the CBDC only for payment, without an option to store, exchange or send it to other users.

The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option.

International Monetary Fund managing director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies.

"Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg," wrote the Bank for International Settlements.

Agustín Carstens called CBDCs the “central element” of the central bank leadership in innovation.

Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is.

The Office of the Comptroller of the Currency highlighted the “emerging divide” between crypto and tokenization and strongly criticized crypto for being “marked by rampant scams.“

Global Regulator: Crypto Exposure Reporting Should Be Mandatory for Banks

The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto.

IMF managing director Kristalina Georgieva says digitalization is “the most important way” to scale up financial inclusion.

The proposed regulations are currently open to the public for comments, and if approved, they will come into effect by Jan. 1, 2025.

Japanese Firms to Use Digital Currency for Clean Energy Certificate Settlements

Former OpenSea Executive Entangled in AnubisDAO Rug Pull Allegations

The committee already imposes a limit on crypto holdings in bank reserves, but the concentration of crypto in a small number of banks contributed to the March crisis, it said.

New BIS Plan Mandates Banks to Disclose Crypto Holdings