Crypto Assets
Digital currencies may foster competitiveness in retail payments, research finds
But central banks should be cautious and implement non-anonymous models to preserve security
Instant payments crucial to stop crypto disruption – Mersch
ECB board member reiterates concerns around viability of crypto-currencies, while encouraging banks to adopt instant payment networks
How crypto is my currency?
Richard Heckinger examines how central banks are grappling with new ideas on crypto-currency and distributed ledgers
PBoC research head defends ICO ban
Central bank official stresses ban on ICOs will not hinder research on blockchain
Bank of Finland paper deems bitcoin ‘revolutionary’
Bitcoin cannot be regulated, say economists, who give the volatile cryptocurrency a glowing review
Central banks unlikely to issue digital money, argues author
David Birch’s book discusses how communities could be at the heart of the new electronic monetary system
Six large banks join UBS digital currency project
UBS announces the third phase of its digital currency project; analysts question whether the project can deliver all it promises
PBoC bans ICOs in latest crypto-currency battle
Price of bitcoin falls as China’s central bank takes action against projects that have raised 2.6 billion yuan; regulators in other areas also wary of ICO funding
BoE economist argues against benefits of cryptocurrencies
Cryptocurrencies have “failed” to compete with fiat currencies as an alternative store of value
Bank of Korea paper says digital currency will not displace hard cash
Digital currency could be used as a medium of exchange, but will not oust cash as a store of value, given the issues surrounding insurance and trust, authors of working paper find
Norway’s Nicolaisen: central banks must guard against e-money takeover
Private electronic money can bring drawbacks, especially in a crisis, Norges Bank deputy governor warns; central banks need to come up with better options
Chinese bitcoin exchanges continue prohibiting withdrawals
Bitcoin exchanges suspend withdrawals indefinitely following statement from PBoC official; central bank does see benefits to the technology
Government regulation needed for digital currencies to remain secure – paper
Canadian paper draws historical comparison between banknotes and digital currencies, concluding regulation is needed to ensure safety
Central Bank of Nigeria bans banks from using digital currencies
CBN warns on AML-CFT risk to banks from dealings with “virtual currency exchangers”
Central banks ‘critical’ in the development of blockchain
Large South African commercial bank examines what a central bank digital currency would look like, coining the phrase “sovereign blockchain”
Threats and opportunities for money and payments in the digital age
Supervisors will need to adapt their frameworks to protect trust in new protocols associated with cryptocurrencies and distributed ledgers, not merely guard against new risks
Broadbent weighs pros and cons of digital currency
Issuing central bank digital currencies could make commercial banks safer but might also ‘impair’ their ability to make loans, BoE deputy says
Central banks weighing the benefits of bitcoin
Digital or ‘crypto’ currencies are controversial among central banks, but some see merits in their use and a few may even issue their own; more digital currency innovation likely in future
RBA's Debelle doesn't fear digital disruption to payments and currencies
RBA assistant governor Guy Debelle tells London conference digital disruption is a micro, not macro story - saying central banks can deal with a change in the transmission mechanism
China moves to block Bitcoin as digital currency gains credence
Bank of America analysts say Bitcoin could become a ‘serious competitor to traditional money', but the People's Bank of China warns it 'cannot and should not be used as currency'
BoE’s Salmon says Bitcoin won't be 'final word' in digital currencies
Bank of England chief cashier says 'innovative' Bitcoin could in future be superseded by central banks' own digital currencies