Financial authorities in Hong Kong have unveiled a prototype of the Chinese autonomous territory’s own central bank digital currency called Project Aurum. The two-tier platform features a wholesale interbank and a retail e-wallet system, participants revealed. Hong Kong to Issue Retail Tokens and Stablecoins as Part of Project Aurum A collaboration between the BIS Innovation…
Read more
The International Organization of Securities Commissions proposed a set of new measures to address the increasing risks in digital marketing. The Board of the International Organization of Securities Commissions (IOSCO) believes regulators on both national and international levels need more power to address increasing risks and challenges from the “digitalization of retail marketing and distribution.”…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Kim Kardashian Charged by SEC for Promoting EthereumMax, Pro-Russian Paramilitary Raised Crypto Worth $400K, Crypto Exposure by Banks 0.14% + More News Read more »Sign up for e-EUR – the progressive…
Read more
The monetary authorities of four jurisdictions in Asia have carried out tests with international settlements using state-issued digital currencies. Cross-border payments and foreign exchange transactions totaling over $22 million were made as part of the pilot project with the participation of the Bank for International Settlements. Asian Central Banks Pilot Real-Value International Settlements With Digital…
Read more
Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Thai SEC Comes After Bitkub Exchange, OpenSea Rewards Whitehats, BIS Working With (at Least) 7 Central Banks on CBDC Projects + More News Read more »Sign up for e-EUR – the…
Read more
Over $12 million in value was issued in the pilot with commercial and central banks in Hong Kong, Thailand, the UAE and China taking part. A multi-jurisdictional central bank digital currency (CBDC) pilot has been marked “successful” by the Bank for International Settlements (BIS) after a month-long test phase that facilitated $22 million worth of…
Read more
Some of the biggest flaws preventing present-day cryptocurrencies from mainstream adoption, pointed out by the BIS execs, are bottleneck congestion in DeFi and the reliance on volatile assets. Governments across the globe see central bank digital currencies (CBDC) as a means to improve the existing fiat ecosystem. Cryptocurrency’s technical prowess supported by the central bank’s…
Read more
The international organizations affirm the “same risk, same regulation” principle by extending decade-old rules to the rapidly expanding new financial technology. The principle of “same risk, same regulation” for crypto received further confirmation with the release Wednesday of new guidance on stablecoin arrangements (SAs). The guidance, issued by the Bank for International Settlements (BIS) Committee…
Read more
The Celsium failure continues to draw attention to the lending issues from regulators and community. Due to Celsius Network’s withdrawal suspension in mid-June, the very topic of crypto lending made its entryway to the acute issues list for the regulators. Last week, lawmakers and officials continued to raise the question of necessary action, with significant…
Read more
BIS’s cryptocurrency market intelligence platform will be launched under the Eurosystem Centre initiative to provide vetted data about crypto projects. The Bank for International Settlements (BIS) Innovation Hub announced the launch of a new set of projects targeting various aspects of traditional and crypto payments — including a cryptocurrency market intelligence platform and security for…
Read more
