Fintech
Fintech Benchmarks 2023 – presentation
Specialist Joasia E. Popowicz discusses CBDCs, cyber security, AI/ML in regtech, suptech and cloud computing
US Treasury releases defi risk assessment
Lax adherence to AML/CFT requirements allows criminals to launder money
Central bankers cast doubt on utility of CBDC
“Element of Fomo” drives projects on even when purpose is unclear and resources lacking
CBSL requests criminal proceedings against crypto schemes
Legal action could allow investors to recoup losses
People: First governor of Congo central bank dies aged 92
Deputy governors depart in Canada and Sweden; and more
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
Towards legal CBDCs
Officials at the Bank of Thailand and Bank of Jamaica on how their CBDC design choices interact with the law
BIS to trial Asian instant payments link
Project Nexus aims to create standardised cross-border link for different countries’ systems
Islamic banking most at risk of negative CBDC effects
IMF paper highlights risk of unremunerated and small retail deposits
Central Banking Awards 2023: second group of winners unveiled
Awards announced for Governor of the year, Communications, Transparency and partners
Fintech Benchmarks 2023 – executive summary
Most central banks continue work on CBDC, while payments innovation again tops research agenda
Central database is ‘cornerstone’ of open banking
Cyber security and financial literacy are key obstacles to data-sharing, experts say
SNB’s Maechler to take deputy role at BIS
Senior Swiss official will replace Luis Awazu Pereira da Silva as deputy general manager
US lender tied to FTX goes into liquidation
Federal government investigating California bank linked to failed crypto exchange
BIS Project Icebreaker proposes cross-border retail CBDC model
Central banks used smart contracts and worked with FX providers to cut costs and risk
Brazil’s central bank authorises business payments on WhatsApp
Peers can also send money in India, while B2B only is enabled in Singapore
BIS’s Skingsley urges central banks to collaborate on tech
Developing new technology may require “more openness than central banks are used to”
Carstens sets out vision for future monetary system
Programmable money on shared ledger would preserve two-tiered structure
India and Singapore link fast payments systems
Connection designed to help diaspora make cheaper and faster transfers
Russia to launch CBDC pilot in April
Central bank exploring cross-border functionality to evade sanctions
FSB outlines crypto and defi risks to financial stability
Future work will map “oracles”, “bridges” and other links with traditional finance
One in five fintechs in Ireland send inaccurate returns to regulator
One in four reported deficiencies in safeguarding customers’ funds
UAE plans to launch CBDC by 2026
Fintech strategy aims for cashless society through digital transformation
Bitcoin price does not respond to market signals – paper
Researchers find cryptocurrency value “orthogonal” to most economic indicators