Bank for International Settlements

China’s Digital Yuan Nears $1 Trillion in Transactions, PBOC Official Reveals

September 11, 2024 Bitcoin.com

China’s Digital Yuan Nears Trillion in Transactions, PBOC Official Reveals

China’s digital yuan initiative has advanced considerably, backed by over a decade of research and four years of pilot experimentation, according to Lu Lei, Deputy Governor of the People’s Bank of China (PBOC). Trials for the Chinese central bank digital currency (CBDC) have been conducted in 17 different areas, accumulating a total transaction value of […]

Bybit Payroll Heist: Nearly 10 Years in Prison for .7M Crypto Theft

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Basel Committee Gives Permissioned Stablecoins ‘Preferential Treatment’ in Amended Crypto Asset Standard Amidst Heavy Criticism

July 19, 2024 Bitcoin.com

Bank for International Settlements

The Basel Committee, responsible for setting standards for bank regulation, has revised its crypto asset standard, introducing new considerations that impact stablecoins. The updated standard favors permissioned stablecoins, such as JPM Coin, over those issued on public chains. This has elicited criticism from figures in the crypto community, who accuse the committee of attempting to […]

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

ECB’s Joachim Nagel Urges Central Banks to Evolve: ‘We Need to Work on Our Business Model’

May 9, 2024 Bitcoin.com

Bank for International Settlements

Joachim Nagel, President of the Deutsche Bundesbank and Member of the Governing Council of the European Central Bank (ECB), has raised concerns about central banks’ business model. “If part of your core product is loosening attractiveness then you have to think about another new core product,” he stressed. ‘We Need to Speed up on All […]

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Philosopher Yuval Noah Harari warns of AI’s risks in finance

May 7, 2024 Coin Telegraph

AI regulation

The bestselling author, philosopher and historian sees grim potential for AI to get out of control in the financial system.

The unbridled use of artificial intelligence in the financial system could lead to dire results, author, philosopher and history professor Yuval Noah Harari told an audience at the Bank for International Settlements (BIS) Innovation Summit. Strong institutions are needed to keep AI in check, he said.

The financial system creates trust, Harari argued. Money, bonds and other financial devices allow millions of strangers to work together toward common goals. But no effort has been made to make financial regulation understandable “to humans,” he said:

Harari cited the financial crisis of 2007-2008 as an outcome of incomprehensible financial innovation. Regulators were unable to understand new financial products well enough to regulate them.

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Bank for International Settlements and European Central Banks Developing Crypto and DeFi-Tracking System

October 4, 2023 The Daily Hodl

Bank for International Settlements

The Bank of International Settlements (BIS) is collaborating with central banks in Europe to develop a crypto and decentralized finance (DeFi) tracking system. In a new publication, the BIS unveils Project Atlas, a data-gathering platform created in conjunction with the Deutsche Bundesbank and De Nederlandsche Bank that aims to “shed light on the macroeconomic relevance […]

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Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Appeal of Crypto Is ‘Illusory’ and Amplifying Financial Risks of Emerging Markets: Bank for International Settlements

August 22, 2023 The Daily Hodl

Bank for International Settlements

Cryptocurrencies increase the financial risks of emerging economies, according to a new report published by the global central bank umbrella organization known as the Bank for International Settlements (BIS). The report says that cryptocurrencies cannot solve developing countries’ financial challenges, despite some arguing that digital assets can address such problems as high-fee payment transactions and […]

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Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Bank for International Settlements Unveils ‘Game-Changing’ CBDC Blueprint Using Privatized and Controlled Crypto Technology

June 26, 2023 The Daily Hodl

Bank for International Settlements

The global central bank umbrella organization known as the Bank for International Settlements (BIS) has released a blueprint for the future of central bank digital currencies (CBDCs). In its new annual economic report, the BIS deploys the language of the blockchain and smart contract industry, saying the tokenization of fiat currency “has great potential” but […]

The post Bank for International Settlements Unveils ‘Game-Changing’ CBDC Blueprint Using Privatized and Controlled Crypto Technology appeared first on The Daily Hodl.

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Report: UAE Central Bank Implements Digital Currency Strategy

March 29, 2023 Bitcoin.com

Bank for International Settlements

The central bank in the United Arab Emirates said it has started implementing its digital currency strategy with partners G42 Cloud and R3. According to the central bank, the digital currency initiative is expected to “further position and solidify the UAE as a leading global financial hub.” CBDC Strategy to Focus on Three Pillars The […]

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

BIS Releases Report On ‘Project Icebreaker’ — Develops Cross-Border Retail CBDC Payment Model

March 8, 2023 Bitcoin.com

Agustin Carstens

The Bank for International Settlements (BIS) has released a report summarizing the “Project Icebreaker” trial, which explored the potential advantages and difficulties of utilizing a retail central bank digital currency (CBDC) in cross-border payments. The experiment was designed to test “the technical feasibility of conducting cross-border – cross-currency transactions between different [distrubuted ledger technology]-based CBDC […]

Bybit Payroll Heist: Nearly 10 Years in Prison for $5.7M Crypto Theft

Here’s What’s Driving Bitcoin (BTC) Adoption, According to Bank for International Settlements Research

February 22, 2023 The Daily Hodl

Bank for International Settlements

The Bank for International Settlements (BIS) says that rising Bitcoin (BTC) prices spur much greater adoption just a few months later. In a new bulletin from BIS, the institution says retail investors pour into Bitcoin after the price begins to rise, in hopes of chasing high returns. “While the Bitcoin price and user numbers have […]

The post Here’s What’s Driving Bitcoin (BTC) Adoption, According to Bank for International Settlements Research appeared first on The Daily Hodl.

Bank for International Settlements

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