South Korea to invite 100,000 citizens to test CBDC in 2024
Participants will be restricted to using the CBDC only for payment, without an option to store, exchange, or send it to other users. Go to Source
BIS
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‘Primitive’ stablecoin lacks mechanisms that maintain fiat stability: BIS
The answer again is regulation, although this time the suggested regulation looks a lot like central bank co-option. Go to Source
IMF head: CBDCs can replace cash, help financial inclusion
International Monetary Fund Managing Director Kristalina Georgieva urged the public sector to “keep preparing to deploy” central bank digital currencies. Go to Source
Stablecoins ‘not a safe store of value’: BIS
“Not one of the stablecoins assessed in this paper has been able to maintain their closing prices in parity with their peg,” wrote the Bank for International Settlements. Go to Source
BIS general manager urges central banks to “lead innovation” for CBDCs
Agustín Carstens called CBDCs the “central element” of central bank leadership in innovation. Go to Source
Project mBridge reveals details of its workings ahead of MVP, commercial debut
Project mBridge has put together a slick publication with lots of new information to let the world know what the hottest project in CBDC is. Go to Source
U.S. Office of the Comptroller will discuss tokenization as opposed to crypto
The OCC will host a symposium on tokenization and its benefits in February 2024. Go to Source
Central banks want to look under crypto’s hood — Is this a positive sign?
The mere fact that the Deutsche Bundesbank, BIS and other financial incumbents want such information now suggests a tacit acceptance of crypto. Go to Source
IMF director urges ‘financial inclusion’ via digitalization
IMF managing director Kristalina Georgieva says digitalization is “the most important way” to scale up financial inclusion. Go to Source
Banks’ crypto exposure must be disclosed: BIS’ Basel Committee
The proposed regulations are currently open to the public for comments and if approved they will come into effect by Jan. 1, 2025. Go to Source
