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Bank for International Settlements

BIS: DeFi could shape the future of finance, but it’s too complex
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27 January, 2023

BIS: DeFi could shape the future of finance, but it’s too complex

In a new working paper, the Bank for International Settlements took a deep dive into the technical side of DeFi,...
Israel, Sweden, Norway collaborate on retail CBDCs to offer instant cross-border transactions
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26 January, 2023

Israel, Sweden, Norway collaborate on retail CBDCs to offer instant cross-border transactions

Retail CBDCs could solve cross-border friction, but Yaron admitted that several challenges remain, including enforcing AML rules and possibly pushing...
BIS recommends ban, contain or regulate approach to digital assets
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17 January, 2023

BIS recommends ban, contain or regulate approach to digital assets

In light of the FTX fallout, the Bank for International Settlements published a report on January 12 addressing the risks...
BIS wants banks digital asset exposure limited to 2% by 2025
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23 December, 2022

BIS wants banks digital asset exposure limited to 2% by 2025

The BIS wants central banks to set the standard for commercial banks’ involvement with stablecoins, tokenized assets, and “unbacked digital...
Bank of England invites applications for CBDC wallet proof of concept
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15 December, 2022

Bank of England invites applications for CBDC wallet proof of concept

The Bank of England has previously revealed that it would outsource the CBDC wallet to a private company and it’s...
Hong Kong central bank governor optimistic on virtual currency; South Korean counterpart fazed by FTX implosion
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9 December, 2022

Hong Kong central bank governor optimistic on virtual currency; South Korean counterpart fazed by FTX implosion

Eddie Yue of the HKMA says reducing risks associated with digital assets can be achieved by regulating off-chain activities, while...
BIS: African central banks pushing for CBDCs, but their motivation differs from other regions
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30 November, 2022

BIS: African central banks pushing for CBDCs, but their motivation differs from other regions

Bank for International Settlements found that payment system efficiency is the key motivator, but unlike other regions, African central banks...
NY Federal Reserve testing CBDCs to improve foreign exchange transactions
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9 November, 2022

NY Federal Reserve testing CBDCs to improve foreign exchange transactions

The exploration is part of Project Cedar, an experiment conducted by the BIS to test the worthiness of wholesale CBDC...
UAE central bank completes CBDC pilot, eyes international usage for cross-border payments
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30 October, 2022

UAE central bank completes CBDC pilot, eyes international usage for cross-border payments

Apart from improving cross-border payments, CBUAE’s governor noted that the pilot was also targeted at enhancing the local financial sector...
Hong Kong reveals new CBDC design in collaboration with BIS Innovation Hub
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26 October, 2022

Hong Kong reveals new CBDC design in collaboration with BIS Innovation Hub

Project Aurum highlighted a technological stack to explore the viability of wholesale and retail CBDCs, utilizing two different tokens—intermediated CBDCs...
Sweden central bank partners with Israel, BIS on ‘Project Icebreaker’ CBDC test
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7 October, 2022

Sweden central bank partners with Israel, BIS on ‘Project Icebreaker’ CBDC test

Sveriges Riksbank is also partnering with Norway in Project Icebreaker to test the viability of CBDCs in international retail and...
Bank for International Settlements, Hong Kong central bank tap distributed ledger tech to raise SME funding
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22 September, 2022

Bank for International Settlements, Hong Kong central bank tap distributed ledger tech to raise SME funding

The Hong Kong Monetary Authority and the Bank for International Settlements seek to leverage the benefits of decentralized finance and...