Stablecoins
BoE launches design phase of ‘digital pound’ project
UK likely to issue central bank digital currency as anchor for monetary sovereignty
UK prepares to regulate crypto sector
Government wants to “capitalise” on benefits of crypto assets while controlling the risks
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
PBoC launches offline CBDC payments
Users can also conduct e-yuan transactions with 0% battery
2022: The year in review
The invasion of Ukraine left central banks facing yet another exceptional set of challenges. Central Banking looks back at the stories that made the biggest impact this year
Governors approve plan to regulate banks’ crypto exposures
Basel standards place heavy risk weighting on unbacked crypto assets in bid to limit banks’ exposures
BIS tests stablecoins in its first retail CBDC project
Project Aurum with HKMA also explored a token model
Fed’s stability report warns over global tightening and stablecoins
Stablecoins face possible runs while strong dollar poses EM risks, Fed says
CBDC, cash and fast payments: the view from the IMF meetings
Digital currency and fast payments present ample opportunity for improvements, say policy-makers
Is there a case for a retail CBDC in Japan?
A BoJ-managed, account-ledger ‘digital yen’ tied to the new Kotora payments may offer some potential
NY court orders world’s largest stablecoin issuer to prove reserves
Defendants accused of crypto market price manipulation
Australian senator introduces bill to regulate e-yuan
International use of the CBDC viewed as boosting China’s strategic power
Book notes: The Fed unbound, by Lev Menand
Instead of the Fed expanding its tasks to meet shadow banking needs, this book calls for charter-like oversight of NBFIs
UN warns against rapid adoption of crypto in developing nations
Tax evasion depletes resources for development, report finds
MAS to consult public on regulating stablecoins
Chairman says central bank will consider reserve requirements for stablecoin issuers
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
BIS: the future of money is not crypto
Hyun Song Shin lays out vision of payments innovation backed by CBDC
Fed’s Waller joins chorus of concern over crypto
Growing number of central bankers now talking about crypto regulation
BoE set to gain stablecoin insolvency powers
Government proposal would amend existing rules for dealing with failed payment systems
Book notes: The future of money, by Eswar S Prasad
Prasad’s book is the best on the topic so far, providing the most complete description of issues and factors that will shape the future of money
How to stop stablecoins from hoarding precious collateral
Repo markets expert and crypto bank chief exec think Fed reserves are the right answer
Digital euro could be reality by 2026 – ECB’s Panetta
ECB will step up engagement with authorities and investigate means of issuing CBDC
Yellen calls for new stablecoin regulation amid algorithmic crash
Terra, a leading stablecoin, lost its dollar peg as several crypto-assets fell