New proposals from the Bank for International Settlements are unlikely to lead banks to hold bitcoin. But they could open the door to CBDCs, says our columnist.
Holdings of unbacked crypto like bitcoin and algorithmic stablecoins would be limited to 1% of a lender’s capital under the standard setter's new plans put out for consultation Thursday.
A new Bank for International Settlements (BIS) working paper makes a case for “embedded supervision” that argues regulatory oversight can be built into seemingly untamable decentralized finance (DeFi) systems. “The Hash” team discusses the feasibility of such supervision and regulating open finance.
Bank of International Settlements General Manager Agustin Carstens pushed back against claims that China’s digital yuan would give the country a “first mover advantage” in the world of CBDCs.
Libra was the final wake-up call for central banks that prompted serious consideration of digital currency issuances, according to the head of the BIS Innovation Hub.