Bank of International Settlement calls the rise of decentralized finance ‘an illusion’ in latest quarterly review
Even though the total value locked in DeFi protocols has eclipsed $246 billion, it was not enough to please the BIS.
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BIS Innovation Hub partners with Fed to support analysis of digital assets
Jerome Powell cited CBDCs and digital assets in his speech to open the New York Innovation Center at the Federal Reserve’s local offices.
Law Decoded: Infrastructure woes and benevolent punishments, Sept. 27–Oct. 3
As House Democrats grapple over the infrastructure bill, the Biden administration and Federal Reserve eye stablecoin regulation.
Global CBDC bridge needs public and private cooperation, says BIS
Cooperation between public and private sectors would be vital for a global CBDC system, says a new joint report.
‘Faster and Cheaper Cross-Border Transfers’ — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency
According to a report published by the Bank of International Settlements (BIS) and a group of central banks, digital currencies can lead to faster settlement and cheaper transfers. Moreover, the…
CBDCs could cut cross border remittance costs by half: BIS report
The BIS report based on a multi-CBDC pilot also showed significant improvements in international remittance speed.
It’s now or never — The US has to prepare itself for digital currency
If the United States is still not ready for central bank digital currency, it will stay on the sidelines of tech and financial innovations.
BIS Asks Central Banks to Urgently Develop CBDCs to Compete With Crypto Assets
The head of the Bank of International Settlements (BIS) Innovation Hub, Benoît Cœuré, has urged central banks to act now on central bank digital currencies (CBDCs) to compete with initiatives…
Australia, Singapore, Malaysia, and South Africa to Trial Cross-Border Digital Currency Payments
The central banks of Australia, Singapore, Malaysia, and the Republic of South Africa have set out to test the use of state-issued digital currencies in cross-border payments. The trial, led…