Fintech
Bank of Mexico admits $15.2 million went missing in cyber heist
Central bank says customers’ accounts were not penetrated; new cyber unit will look to strengthen internal and external controls
Dubai regulator issues ‘innovation testing licenses’ to six fintech firms
Licenses will allow firms to test products with relaxed regulatory requirements
Canada’s Project Jasper finds DLT is viable for securities settlement
Phase III of the project saw central bank cash and assets instantly settled across a DLT network where privacy is maintained
No reason for public to have central bank accounts – Cœuré
ECB executive board member sees no current need for central bank digital currency, but says it could act as an alternative to cash in future
Central banks should create national cyber defence – Canada’s Dinis
Not enough for institutions to maintain their own “alarm systems”, Bank of Canada COO says, highlighting the usefulness of cyber stress tests
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
Dramatic fall in Bitcoin price correlates with introduction of futures, authors argue
ECB presents ‘red team’ guidelines for simulated cyber attacks
Test will mimic the techniques of real hackers to better understand banks’ cyber defences
The hunt for a crypto taxonomy
Cryptocurrency, crypto asset, crypto token – or something else? Finding the right term helps shed light on the structure of the fast-growing crypto market
Bahamas central bank upgrades IT to defend against cyber risk
Central bank updates security and threat management systems and introduces a new “bring your own device programme”
Bank of Canada paper offers advice on digital currency policy
Framework designed to help policymakers weigh up various forms of digital money
No funds taken in cyber breach, Bank of Mexico says
Central bank reveals three participants of interbank payment network experienced “incidents” within internal systems; banks asked to implement “additional controls”
Venezuelan public invited to invest in national crypto asset
President Maduro announces public will be able to invest in ‘petro’ as well as gold; $1 billion from the proceeds of first petro auction to go to the central bank
Public should be allowed to open accounts with central banks – research
St Louis Fed paper argues against central banks launching full-blown digital currencies, but says an electronic form of central bank money “would be easy to implement”
Fintech in the ‘new era’ – Sustainable and sound development
Li Dongrong, president of the National Internet Finance Association of China and former deputy governor of the People’s Bank of China, discusses the growing importance of fintech and how innovation must be married to self-discipline for China to make a…
Philippines toughens rules on crypto-exchanges
Philippines is one of the few central banks to adopt formal regulations on crypto-asset exchanges
CFTC’s fintech catch-up effort includes ‘global sandbox’ push
Chairman Christopher Giancarlo says the US derivatives regulator is seeking co-operation agreements around the world
Do not discount central bank digital currency yet – Lagarde
IMF chief says central banks may be forced to issue their own form of crypto-asset if private sector alternatives remain ‘risky and unstable’
FCA’s McTeague examines cyber risks in open banking
Regulator expects firms to maintain high standards of security despite “potentially uncomfortable” transition period
SNB rejects idea of retail central bank digital currency
Governing board member Andrea Maechler says central bank digital currency would bring “incalculable risks”, and denies that crypto tokens are “comparable with” money
RBI to consider launching digital currency
Reserve bank to investigate issuing a digital form of central bank money, as it unveils measures to “ring fence” regulated banks against crypto tokens
Bank Negara Malaysia ‘foils’ cyber heist
Central bank assures public no funds were lost during incident involving falsified Swift messages
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