Cryptocurrency
Ethiopia tells crypto firms to register with cyber security agency
National Bank of Ethiopia had said transactions using crypto are illegal
Case for retail CBDC ‘not compelling’ in Singapore – Menon
But MAS is building CBDC and sees some “promising use cases” for digital assets
Australian government will map crypto asset holdings
Move is necessary to oversee “largely unregulated” crypto sector, finance minister says
Crypto assets may threaten Asian stability, IMF officials warn
Rising correlation between crypto and equity markets poses financial stability risk, say economists
Book notes: Can’t we just print more money?, by Rupal Patel and Jack Meaning
A genuinely readable but non-neutral introduction to economics
Fed announces new guidelines after master account controversy
Rules will impose tight scrutiny on non-conventional applicants
Campos Neto predicts end of credit cards
Brazil governor says Pix will be model for region’s payment systems
UN warns against rapid adoption of crypto in developing nations
Tax evasion depletes resources for development, report finds
Philippine central bank to freeze licensing of digital asset firms
Existing financial institutions under the BSP’s supervision can still apply for a licence
BEAC governor clashes with political leaders over recruitment
Charges of nepotism follow dispute with Central African Republic over bitcoin
El Salvador congress approves use of SDRs for early debt repayment
Talks with IMF stalled as country tackles $24 billion debt load
MAS to consult public on regulating stablecoins
Chairman says central bank will consider reserve requirements for stablecoin issuers
DNB fines Binance for ‘grave’ regulatory breach
Netherlands sanctions exchange over failure to register, but other regulators are more welcoming
Central African Republic launches crypto asset
Regional central bank reaffirmed ban on cryptocurrency after CAR made bitcoin legal tender
Knot says financial stability risks are growing
FSB chair says emerging economies are particularly vulnerable as financial conditions tighten
Crypto emissions will lower valuations, says ECB paper
European banks must incorporate crypto into estimates of climate transition risks
Basel Committee proposes capital add-ons for crypto exposures
Committee tightens proposed rules in several areas following high-profile crypto failures
US targets North Korean crypto hacking
Treasury seeks co-operation to better enforce sanctions on North Korea and Russia
US senator attacks regional Fed over fintech firm’s payments access
Kansas City Fed president Esther George refuses to release correspondence about terminating account
BIS unveils ‘post-quantum cryptography’ project
Innovation Hub centres will also explore climate disclosures and CBDC security
BIS: the future of money is not crypto
Hyun Song Shin lays out vision of payments innovation backed by CBDC
Panama’s president vetoes parts of crypto law
Bankers’ association also opposes law, which president says lacks AML protections
Banknotes: April to June 2022
A round-up of news and salient issues that have affected central bankers in the past three months
Crypto market faces growing fragmentation – BIS paper
Crypto assets are failing to generate network effects seen in standard payments, authors find