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Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments
3.9.2021
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led by the Bank for International Settlements, aims to establish whether they can simplify transactions and make...
BIS Teases More CBDC Interoperability Progress in New Four-nation Pilot
2.9.2021
Source: Adobe/Сергей Шиманович
The Bank for International Settlements (BIS) is set to step up its central bank digital currency (CBDC) pilot program in a cross-border initiative aimed at testing inter-central bank settlements using multiple CBDCs.
The plan is the brainchild of the BIS’s Innovation...
Australia, Singapore, Malaysia and South Africa launch joint CBDC pilot
2.9.2021
The joint initiative will prototype shared DLT platforms enabling institutions to settle cross-border transactions using central bank-issued digital currencies
IMF, World Bank, BIS Recommend Countries Work Together on CBDCs to Enhance Cross-Border Payments
18.7.2021
The International Monetary Fund (IMF), the World Bank, and the Bank of International Settlement (BIS) have conducted an extensive study of using central bank digital currencies (CBDCs) for cross-border payments. Their report to the G20 states that enhanced cross-border payments “can...
IMF, World Bank and BIS champion central bank digital currencies at G20
9.7.2021
A new report released by the triumvirate of global finance argues that central bank digital currencies will benefit worldwide development
US State Department Official Wants El Salvador to ‘Ensure Bitcoin Is Well Regulated’
3.7.2021
The U.S. Department of State’s undersecretary of state for political affairs, Victoria Nuland, has explained during a press conference that the U.S. has urged El Salvador to be responsible with the country’s new bitcoin law. Nuland told the press that the U.S. was taking a “tough...
BIS Economist Recommends ‘Technology-Neutral’ Crypto Regulation, Low-Cost Supervision of Decentralized Markets
2.7.2021
An economist with the Bank of International Settlements has found that cryptocurrencies are not sought as an alternative to fiat currencies or regulated finance, therefore a “technology-neutral regulation to this asset class” is recommended. The economist discussed “embedded...
Crypto ownership has nothing to do with distrust in fiat: BIS study
2.7.2021
Cryptocurrency owners are “generally more educated than the average,” according to a new study by the Bank for International Settlements
BIS: Cryptocurrencies Are Often Used in Financial Crimes, Money Laundering, Ransomware Attacks
24.6.2021
The Bank of International Settlements (BIS) says that it is now clear that cryptocurrencies are not money but speculative assets, emphasizing that in many cases they are used “to facilitate money laundering, ransomware attacks, and other financial crimes.” BIS Criticizes...
BIS optimistic about central bank digital currencies
23.6.2021
The central bank of central banks says CBDCs are necessary for maintaining the status quo of the legacy financial system
Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador
13.6.2021
JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may...
Basel Committee Proposes Differentiating Regulation of Crypto Assets Based on Risks to Banks
12.6.2021
The Basel Committee on Banking Supervision has proposed dividing crypto assets into two groups and regulating them based on their market, liquidity, credit, and operational risks to banks. Cryptocurrencies, such as bitcoin, will be subject to “a new conservative prudential treatment.”...
BIS Official Insists Bitcoin Fails Means of Payment Test, Calls El Salvador’s BTC Law ‘Interesting Experiment’
11.6.2021
An official at the Bank for International Settlements (BIS) and former member of the executive board of the European Central Bank (ECB), Benoit Coeure, insists that bitcoin has not passed the test of being a means of payment. He calls El Salvador’s move to make the cryptocurrency legal tender...
Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector
11.6.2021
The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central...
El Salvador's Bitcoin adoption an 'interesting experiment,' says BIS exec
11.6.2021
El Salvador’s move to make Bitcoin legal tender in the country continues to elicit reactions from legacy finance gatekeepers, this time from the Bank for International Settlements
BIS joins France and Switzerland's central banks on cross-border CBDC project
10.6.2021
The central bank digital currency project will test cross-border settlement between French and Swiss fiat currencies
Fintechs Invited to Work on Georgia’s Central Bank Digital Currency
7.5.2021
National Bank of Georgia (NBG) has issued a call for companies in the fintech sector, financial institutions and technology firms to support its efforts to create a digital currency. Georgia’s central bank wants to employ new technologies to raise the efficiency of the country’s payment...
Bank of International Settlements Chief Says Cryptocurrencies Being Used to Evade Laws- Advocates for More Regulation
26.3.2021
Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used...
DeFi - CeFi Convergence & 'Explosive' Growth Are Coming - BIS Summit Panel
24.3.2021
Decentralized finance (DeFi) and centralized finance (CeFi) are heading towards convergence as we are entering a period of rapid development for DeFi applications worldwide, according to the participants of a panel discussion at this year’s BIS Innovation Summit, an event hosted by the Bank...
Bank of International Settlements head says cryptos require more regulation
24.3.2021
Agustín Carstens has called for cryptocurrencies to be subject to more regulations while arguing that virtual currencies have not made a significant dent in global finance