Cryptocurrency
Philippine central bank gains powers over crypto assets
Revised regulations create “unbroken chain of regulated entities” for virtual asset providers
Dutch crypto firm takes legal action against DNB
Bitonic says new KYC requirements are disproportionate and threaten consumer privacy
Book notes: The currency cold war, by David Birch
Pleasant and interesting read on whether digital money will jeopardise the US dollar’s dominant role in global trade and finance
FCA fails to register crypto asset firms by cut-off
Regulator establishes temporary registration regime for firms which submitted an application on time
How can central banks secure the future of money?
Central banks should start tackling the accounting, legal and policy challenges related to CBDC. This work will shape the future of money, as could be witnessed in Albania
Regulators need common crypto asset standards – policy-makers
“Too many” crypto assets created to avoid regulation, official tells Central Banking summit
UK’s FCA bans crypto derivatives for retail investors
FCA says retail crypto assets have no reliable valuation basis and could increase financial crime
Lower financial literacy linked to crypto asset ownership – Bank of Canada
New cash survey shows financial literacy is positively associated with crypto asset awareness, but negatively associated with ownership
Norges Bank looks to narrow down CBDC options
Project enters third phase as central bank prepares recommendation on specifics of CBDC design
FATF will set up global network of virtual asset supervisors
Current standards are sufficient to govern stablecoin activity, report says, but risks may grow
People: Carmen Reinhart to be World Bank chief economist
Carmen Reinhart to take over from Penny Goldberg at World Bank; BIS picks Hong Kong hub head; Libra Association appoints chief executive
MAS will regulate token derivatives
Central bank updates securities legislation to regulate tokens offered by approved exchanges
Libra’s Disparte on big tech’s move into digital currency
Libra Association vice-chair Dante Disparte speaks about the decision to abandon a multi-currency reserve, stress-testing a global payment network and how the Facebook-backed body still has 3 billion customers in its sights
BoE sets out design principles for retail CBDC
Paper sheds new light on BoE’s thinking on design process and possible pitfalls
Facebook may bow to regulatory pressure on libra
Basic goals have not changed, says tech giant, but reports suggest network will offer libra alongside other assets
Indian supreme court overturns RBI crypto ban
RBI has powers over crypto asset services but total ban was disproportionate, court rules
Podcast: Bank of Finland’s Aleksi Grym on a 1990s’ digital currency
Avant was launched to establish a new payments network but failed due to competition from ATMs
Many new UK financial products lack consumer protections – FCA
E-money services are not covered by financial services compensation scheme, UK regulator says
ECB and BoJ point to major problem in DLT-based payments
Latest “Project Stella” report says central source of information could create single point of failure
FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
RBA: stablecoins must wait until framework in place
Australian central bank says it may step up CBDC research efforts this year
Negative rates demonstrate shortcomings of currency
Many central banks have rates in negative territory. The distortionary effects of these policies raise broader questions on the design of money itself, writes Barry Topf
In search of a better definition of digital money
Dave Birch tries to cut through the noise on cryptocurrencies, blockchains and everything in between
Basel Committee proposes illustrative prudential framework for crypto assets
Holdings of crypto assets would be split between banking book and trading book depending on exposure risks