Fintech
BoE and FCA to lead new ‘crypto-assets task force’
Regulators will manage the risks around crypto assets as well as “harnessing the benefits” of blockchain; robo-compliance on cards
Crypto tokens not yet a ‘significant risk’ – MAS’s Menon
The MAS is monitoring the crypto world using “unconventional” data-gathering methods
FSB: cryptocurrencies too small to be major threat
Limited links to real economy imply crypto assets may avoid regulatory crackdown for now; work continues on consumer protection
Thai governor advises banks to get fintech-based vaccine
Fintech can help build “immunity” to financial shocks, says Santiprabhob, urging banks to use data to improve risk management
Lagarde says tech should be used for crypto regulation
IMF managing director says it’s time to “fight fire with fire”; DLT and AI could help enforce regulation on crypto assets
Central bank digital currencies could aid policy transmission – BIS
BIS says CBDC may boost transmission of rate changes, but could also lead to runs at “unprecedented speed and scale”
Banks’ links to fintech echo run-up to financial crisis, EBA head says
EBA will work for consistent regulation of fintech by European countries, Enria says
European cyber resilience board holds first meeting
ECB’s Cœuré will chair board consisting of major financial infrastructure companies
Malaysia imposes anti-money laundering rules on crypto exchanges
BNM orders digital currency exchanges to identify customers and monitor transactions
Cryptocurrencies are failing to displace money, Carney says
BoE governor says digital currencies are “virtually non-existent” as units of account
Sweden must ask fundamental questions on money – Ingves
Sveriges Riksbank governor Stefan Ingves says lawmakers must act to preserve the regulation of the payments system
ECB’s Mersch urges caution on regulatory sandboxes
The ECB board member is “not sure we have the right answers yet”
Fintech lenders increase efficiency of US mortgage lending, research says
Digital credit providers offer faster services, reliable risk assessments and flexible business models, New York Fed research finds
UK lawmakers launch inquiry into DLT and cryptocurrency
Parliamentary committee is to investigate whether UK regulators have struck the right balance in regulating emerging technologies without stifling innovation
Basel Committee weighs opportunities and risks linked to fintech
Regulators should adapt their policies to new risks while not stifling innovation
We don’t need cryptocurrencies – former St Louis Fed economist
Current payment infrastructure and physical cash already provide the benefits offered by cryptocurrencies, says Stephen Williamson
FCA to examine feasibility of global regulatory sandbox
UK regulator recommends establishing a “college” of regulators to strengthen co-operation across borders; interested parties have until March to comment
BIS’s Carstens sees danger in rapid technological change
General manager says supervisors should ensure the banking system remains resilient amid numerous challenges to traditional business models
Sarb unveils new fintech push
South Africa’s central bank to investigate DLT usage for clearing and settlement; fintech roadmap will examine crypto regulation
European authorities warn of dangers in cryptocurrency markets
Spanish and Dutch central banks warn of “misleading” data and unregulated markets
New York Fed economists unconvinced on crypto’s viable uses
Cryptocurrencies would work in dystopian world, economists say, but current environment means advanced economies have no need for them
BIS’s Carstens calls for cryptocurrency clampdown
Bitcoin has become “a combination of a bubble, a Ponzi scheme and an environmental disaster”