Stablecoins
Quarles says Congress should rein in Fed funding
Former vice-chair for supervision calls for new body to wind down liquidity programmes
Eurosystem approves new payments oversight framework
‘Pisa’ principles will cover stablecoins, e-wallets and other payments arrangements, ECB says
RBA stepping up CBDC research despite scepticism over use
Australian central bank is concerned private sector firms could dominate payments sector
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
Interoperability of stablecoins
Central bank reserves could be a better option for backing stablecoins than Treasuries, say Manmohan Singh, Caitlin Long and Charles Kahn
Time to ‘future-proof’ central banks – Sibos panel
Central bankers prepare for CBDC issuance as stablecoin threat eases
Podcast: Fintech and the question of central bank autonomy
Central banks should ensure their fintech activities do not undermine transparency and independence, say Wouter Bossu and Arthur Rossi
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
CPMI aims to ‘shape the future of payments’
Committee publishes work programme for first time, focusing on innovation and risks in FMIs
Waller ‘highly sceptical’ Fed needs a CBDC
Existing and planned payments system upgrades appear sufficient, governor says
Stablecoins neither stable nor coins – paper
Researchers argue stablecoins are not medium of exchange, and so are not money
Carney warns CBDC delays play into hands of big tech
Failure to launch CBDC risks entrenching power of tech firms, former BoE governor says
BoE says stablecoins must be as trustworthy as commercial bank money
Stablecoins may require tailored regulation and access to emergency liquidity facilities, paper says
Diem says it will ‘fade out’ stablecoin if Fed issues CBDC
Chief economist of Facebook-backed firm says public sector has “comparative advantage”
Benoît Cœuré on CBDCs, stablecoins and central bank fintech co-operation
BIS Innovation Hub chief voices concerns about the timing of stablecoin and CBDC roll-outs, fintech risks for supervisors and monetary policy, and details development plans for eight innovation locations
Diem shifts focus to US dollar stablecoins
Move away from Switzerland sees former Libra Association distance itself from original multi-currency plans
Zhang Tao on the IMF’s fintech agenda, CBDCs and big tech oversight
IMF deputy managing director speaks about the fund’s perspectives on CBDC operating frameworks, regulating big tech and macrofinancial oversight in a digital world
ECB’s digital euro consultation says public worried over privacy
Nearly half of responses to ECB come from Germany
Payment innovation is top fintech research priority for central banks
CBDC ranked second as central banks explore wider implications of fintech for payments
Bank of Thailand reinforces stablecoin regulation
Firms wishing to issue baht-backed stablecoins must consult with the central bank
‘Do no harm’: central bankers warn against rush to issue CBDC
Agustín Carstens, Jerome Powell and Jens Weidmann highlight risks of acting too fast
Stablecoin issuer agrees to settle lawsuit over ‘deceptive’ trading practices
New York attorney general accuses Tether of lying about the backing of its crypto asset with US dollars
Stablecoins could allow for ‘embedded supervision’ – BIS paper
But authors say CBDCs may be a more effective means of achieving the same goal