The project will be led by an intersectoral domestic team, Diokno said, as well as “external advisers from international standard-setting bodies and multilateral institutions to build on trainings and knowledge sharing on CBDC development and implementation all over the world.” Diokno called the project “critical in constructing the BSP’s medium to long-term roadmap for more…
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In terms of policy, Greg Tanaka calls himself a legislator for the digital age and possibly the most pro-crypto person running in this election cycle. Now a Palo Alto City Council member, he has set his sights on the United States House of Representatives seat for California’s 16th: the Silicon Valley district. In an interview…
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Regulation by enforcement, a fast and economical substitute for thorough rulemaking, is widely regarded as some of the U.S. executive agencies’ preeminent approach to crypto regulation. It could be summed up as letting crypto firms explore the boundaries of what is permissible by themselves and then punishing industry participants in case their exploratory actions come…
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The Australian Prudential Regulation Authority, or APRA, published a letter to regulated entities Thursday setting out risk management expectations and a policy roadmap for the regulation of crypto-assets through 2025. “While activities associated with crypto assets are still relatively limited in Australia, the potential scale and risks of such activities could become significant over time,”…
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According to the International Monetary Fund’s Global Financial Stability report released Tuesday, the war in Ukraine — following hard on the heels of the coronavirus pandemic — has led to a tightening of global financial conditions. Rapid changes in fintech and the uses and misuses of cryptocurrency play into the jumble of challenges facing the…
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Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would…
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Last week was the Paris Blockchain Week, and the epicenter of crypto policy and regulatory conversation moved to the French capital accordingly. Cointelegraph reported extensively from the ground and ran a series of interviews with some of the crypto industry’s captains who shared their thoughts on the state of regulatory affairs. For one, Binance’s Changpeng…
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As the adoption of crypto takes off, the industry is exerting increasing influence on American society. This can be seen in its lobbying efforts and political action committees, for example, and in its own organizational efforts, such as business associations that promote it at the state, regional and national levels. Another way crypto is influencing…
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The Bank for International Settlements, or BIS, released a paper Tuesday on central bank digital currencies, or CBDCs, and how they can be used to meet policy goals for financial inclusion. The paper drew on interviews conducted in the second half of last year at nine central banks that are currently exploring retail CBDCs. It…
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European Central Bank executive board member Fabio Panetta provided an overview of the central bank’s current research on a retail central bank digital currency Friday when he spoke at the IESE Business School Banking Initiative Conference on Technology and Finance. Panetta said the issuance of central bank digital currencies, or CBDCs, is “likely to become…
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