Bank of International Settlements

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BIS: 9 out of 10 Central Banks Worldwide Are Exploring Digital Currencies — Driven by Crypto Market

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Nine out of 10 central banks globally are exploring central bank digital currencies (CBDCs), according to the latest survey by the Bank of International Settlements (BIS). Furthermore, “the emergence of stablecoins and other cryptocurrencies have accelerated the work on CBDCs.” BIS Central Bank Digital Currency Survey The Bank of International Settlements (BIS) published a report … Read more

Bank for International Settlements States True Decentralized Finance Is an ‘Illusion’

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The Bank for International Settlements (BIS), a finance organization comprised of several central banks, has stated that while the objective of decentralized finance is to move control of financial tools away from current financial institutions, it just provides an ‘illusion’ of doing so. The organization argues that there is some kind of centralization around governance … Read more

‘Faster and Cheaper Cross-Border Transfers’ — Banking Report Led by BIS Highlights the Benefits of Cryptocurrency

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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 banking group leveraged a prototype that shows how money transfers can be done in seconds with very little processing fees. Inexpensive Transfers & Speed: Bank … Read more

Swiss, French Central Banks to Trial Wholesale CBDC Settlements With BIS and Private Sector

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The central banks of Switzerland and France are joining hands with the Bank for International Settlements to test wholesale central bank digital currencies in cross-border transactions. The experiment will be conducted with the help of a private sector consortium led by Accenture. European Central Banks to Collaborate on CBDC Project The Swiss National Bank (SNB), … Read more

Bank of International Settlements Chief Says Cryptocurrencies Being Used to Evade Laws- Advocates for More Regulation

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Agustin Carstens, the general manager at the Bank of International Settlements (BIS), has claimed that cryptocurrencies are “used to evade laws and should therefore face more regulation.” Carstens, who has attacked bitcoin in the past, suggests that many crypto assets are “used to do some arbitrage, or to circumvent some regulations.” Carstens Repeats the Same … Read more

Report Claims Central Banks Are Cautious About Issuing Their Own Digital Currencies

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The Bank of International Settlements (BIS) has published a survey showing that most central central banks are “proceeding cautiously” on issuing their own digital currencies. Only a handful are planning to do so in the near future, it said. Also read: Coinflex Exchange to Offer Leveraged BCH and BTC Futures 70 Percent of Central Banks Working … Read more