Fintech
Fed rate hikes propel ‘crypto cycle’ – IMF paper
Monetary policy more correlated with institutional investment in tech than finance
Quantum computing and AI threaten financial system, Fed says
Ransomware groups seek to “exert maximum pressure on victim organisations”
DeSantis attacks Federal Reserve
Republican candidate suggests he would name new Fed chair
Panama supreme court rejects crypto law
Judges agree draft law has unconstitutional provisions and was improperly passed
FSB unveils crypto regulation framework
Recommendations were toughened to reflect failure of FTX and terraUSD/luna stablecoin
New York Fed completes global digital dollar proof of concept
Wholesale CBDC project tested 24/7 payment and settlement
BIS attacks crypto in report to G20 officials
But report promotes DLT for use in cross-border wholesale CBDC
BIS reports gaps in CBDC cyber security modelling
Over 90% of central banks now working on a CBDC project, survey finds
World Economic Forum warns of CBDC ‘alliances’
Report recommends interoperability via “token switching” and common messaging standards
FATF finds global crypto AML failures
Most jurisdictions “struggle with fundamental requirements”
EC proposes legal tender status for digital euro
Legislation envisages digital wallet available on- and offline, while safeguarding cash
SNB to test wholesale CBDC in real-world pilot
Tokenised assets will be settled on the SIX Digital Exchange
IMF’s Adrian draws ‘blueprint’ for international CBDC platform
Model would use common token, exchangeable with central bank reserves
Unified ledger could usher in ‘profound’ economic change – BIS
Hyun Song Shin describes single platform for public and private money as “game changer”
BoE and BIS develop digital currency APIs
Bank of Canada, Central Bank of Hungary, Visa, Mastercard and Amazon involved
Central bankers warn of systemic cyber risk
Central Banking Summer Meetings: Officials recommend automating configuration checks
Central Banking FinTech RegTech Global Awards 2023
Central Banking’s sixth annual FinTech RegTech Global Awards showcase the ground-breaking projects undertaken within the central banking community
Ukrainian hackers claim attack on Russian banks
Cyber attack targets Bank of Russia’s interbank system, disrupting payments
Data privacy laws can boost fintech lending – BIS paper
Study finds Californian law led to more data being shared with fintech firms
SEC charges Binance and Coinbase
World’s largest crypto exchanges accused of illegal operations at expense of investors
Banknotes: April to June 2023
A round-up of news and salient issues that have affected central bankers in the past three months
Hong Kong legalises retail crypto trading
Licensed exchanges will be able to trade major virtual tokens to retail investors