Crypto Assets
Decentralised crypto exchanges dominated by big players – paper
Research argues that simply removing intermediaries is not enough to democratise finance
Book notes: Easy money, cryptocurrency, casino capitalism, and the golden age of fraud, Ben McKenzie with Jacob Silverman
Casts light on how shady crypto characters defraud consumers but does little to identify and control such fraudsters while protecting the public
Bank of Italy makes its new DLT protocol open source
Research says novel cryptographic signature could validate payments and digital asset transfers
Automated market-makers create market integrity and stability risks – research
Canadian research warns of real economy impact, depending on level of interconnection
MAS expands asset tokenisation initiatives
Central bank publishes white paper on shared ledger system, and expands ‘Project Guardian’
Crypto rule change will slash Brazil’s current account deficit
Crypto purchases will no longer be treated as import goods, central banks says
Ethiopia approves CBDC law as it pursues bitcoin mining policies
Monetary policy and financial stability committees established as part of economic reforms
Central Bank of Brazil delays crypto regulation to end of year
Second public consultation to be launched
Book notes: Going infinite: the rise and fall of a new tycoon, by Michael Lewis
Nothing in the book left this reader thinking anything positive at all about Bankman-Fried
Binance founder sentenced to four months in prison
Nigerian court adjourns separate money laundering case against the crypto exchange
US requests three-year prison sentence for Binance founder
World’s largest crypto exchange agreed to pay $4.3 billion for violating money laundering laws
Book notes: Number go up: inside crypto’s wild rise and staggering fall, by Zeke Faux
The book would be a great, comic obituary of crypto, if only crypto were dead
Public perception is key for stablecoin peg – BIS paper
Market sentiment is important in determining whether currencies remain at par with fiat money
Venezuela shuts down state cryptocurrency
Petro overseer had been embroiled in scandals, including over $21.2 billion of missing oil payments
US monetary policy drives defi credit cycles, HKMA study finds
Automatic liquidation could amplify shocks and trigger runs, author say
HKMA proposes strict stablecoin regime
Algorithm-based stablecoins likely to be excluded under new rules, Hong Kong authorities say
Basel Committee to consult on stablecoin capital requirements
Feedback also sought on interest rate risks and G-Sib “window dressing”
Small Swiss city accepts invoice payments in bitcoin and tether
Crypto accepted for taxes, fines and services, regardless of the amount
Crypto, trade and environmental crime among AML/CFT risks – IMF
Staff propose increasing country assessments to twice per year
No stablecoin has always been able to maintain parity – paper
Authors warn there is no guarantee that issuers can redeem stablecoins on demand
BoE wants stablecoins fully backed with central bank deposits
Systemic stablecoins would have to back issuance with unremunerated deposits