Cryptocurrency
FSB weighs options for tackling rise of non-banks
Randal Quarles says strict regulation is necessary if crypto assets like Libra become widely used
De Galhau unveils G7 task force on ‘stablecoins’
Banque de France governor says group will weigh up impact of Libra and other “stable” crypto assets
Carney pledges BoE will shape ‘future of finance’
BoE considers innovations on balance sheet, SME credit and climate stress tests; Carney says BoE will approach Facebook’s Libra with “open mind”, not “open door”
Regulators prepare response to Facebook’s Libra
Plans under way for G7 working group, as crypto asset plans draw criticism in Europe and US
FSB report considers implications of decentralised financial technologies
Report warns of negatives of tokenisation
Regulators must do more to assess risk of crypto assets, says FSB
FSB members differ on how to tackle international co-ordination
Crypto assets have little impact on monetary policy, says ECB team
Task force concludes crypto assets do not fulfil functions of money
Bank of Canada warns of corporate debt risks
Annual financial system report notes the growing corporate debt in Canada’s extractive industries
Draghi dismisses crypto assets
ECB head describes bitcoin as “very, very risky”
US lawmakers establish task forces to examine fintech and AI
Task forces aim to assess risk to economy and investigate regulation surrounding fintech and AI
Central banks complete first blockchain currency swap
Monetary Authority of Singapore and Bank of Canada link experimental local payment networks
Iceland central bank holds first meeting of payment council
New body aims to ensure security and efficiency in payments and financial infrastructure
Thai SEC executive explains country’s ban on crypto-asset trading
Thai authorities struggled to find a happy medium between consumer protection and innovation
Bank of Samoa warns of crypto asset con
The Ponzi scheme is apparently spreading via churches
FSB to tackle technological innovation under Japanese G20 presidency
Crypto assets, tech firms and cyber risks all on the agenda, says Randal Quarles
US crypto-asset regulation needs strengthening – Massad
Former CFTC chair Timothy Massad recommends a path for regulatory reforms
Basel Committee clarifies ‘expectations’ on crypto
Banks must meet certain minimum standards if they want to trade crypto assets; more details on prudential expectations to follow
Bahamian central bank chooses start-up to spearhead CBDC project
The pilot currency is expected to be running by 2020, governor says
Central bank digital currencies need bigger incentive to succeed, researchers find
IMF paper estimates the potential demand for central bank digital currencies
IMF board says Malta must tighten AML-CFT regime
Maltese Financial Services Authority needs better funding and more independence – IMF board
Bank of Spain paper rejects bitcoin as alternative to large-scale payment system
Objectives of crypto asset make it unsatisfactory as a payment network – research
Central Banking expands fintech bandwidth
New fintech category; newsletter to offer insights into related opportunities and threats
US sanctions on Venezuela could be death knell for petro
Crypto asset is backed by oil reserves the country can barely commercialise
Book notes: Democratizing Money?, by Beat Weber
This is a timely book about ‘how money really works’