The Bank of Korea and the Bank for International Settlements (BIS) have announced a new pilot that will test the functionality of a Korean wholesale central bank digital currency (CBDC), which will serve as a tool for banks to settle interbank transactions and issue CBDC-backed digital currencies that can be fractionally backed depending on the…
Read more
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. The fallout from the banking crisis earlier this year continues as the Basel Committee on Banking Supervision considers requiring banks to disclose their crypto asset…
Read more
The Basel Committee on Banking Supervision has unveiled a new plan that will require banks to disclose their cryptocurrency holdings. This development comes on the heels of a tumultuous year that witnessed the collapse of several major crypto firms as well as crypto-focused lenders Signature and Silicon Valley Bank…. Read More: New BIS Plan Mandates…
Read more
South Korea’s central bank, the Bank of Korea (BoK), is set to embark on a wholesale central bank digital currency (CBDC) test in collaboration with the Bank for International Settlements (BIS) and other key institutions, the BOK announced on Wednesday. The pilot project aims to assess the feasibility of building a future monetary system for…
Read more
The Bank for International Settlements (BIS) and four European central banks have rolled out a Proof-of-Concept (PoC) system to track the global flow of cryptocurrency assets. The partnership with the BIS was struck with the European Central Bank, Banque de France, Deutsche Bundesbank and Nederlandsche Bank to monitor on-chain and off-chain transactions on public networks…
Read more
The pilot will include private banks and public institutions, while the Bank for International Settlements (BIS) will provide expert technical support. South Korea joins a growing number of nations launching central bank digital currency (CBDC) pilot programs. The country’s central bank, the Bank of Korea (BOK), will launch the pilot project to explore the technical…
Read more
The first deputy governor at Banque de France calls central bank digital currency “the catalyst for improving cross-border payments.“ Representatives of Banque de France, the French central bank, have embraced the global perspective on the central bank digital currency (CBDC) discussion, touting it as the foundation of a new international monetary system. On Oct.3, Denis…
Read more
The Bank for International Settlements (BIS) and central banks of France, Singapore, and Switzerland have jointly announced a successful test of cross-border trading and settlement for wholesale central bank digital currencies (wCBDCs). This test incorporated innovative decentralized finance (DeFi) technology concepts and was executed on a public blockchain…. Read More: BIS and Central Banks of…
Read more
BIS general manager Agustín Carstens stresses the importance of legal frameworks that protect CBDC users’ privacy and maintain monetary freedom. Legal frameworks that ensure that user privacy and the freedom to choose between central bank digital currencies and other forms of money will be key in driving CDBC adoption, according to the head of the…
Read more
BaFin’s top executive stresses the risks of crypto and calls for global regulation to apply to all financial centers, without exceptions. While the European Union has made significant progress toward regulating crypto by approving its comprehensive framework, Markets in Crypto Assets (MiCA), the need for global regulation still remains, according to one of the top…
Read more
