The decentralisation inherent in cryptocurrency networks like bitcoin is valuable for its governance benefits, according to Hyun-Song Shin, head of research at the Bank for International Settlements (BIS). But this […]
The Swedish government has called for a European Union-wide ban on the mining of energy-intensive cryptocurrencies like bitcoin and ethereum. Bitcoin and ethereum use an energy-intensive computer algorithm called ‘proof-of-work’ […]
The US central bank has warned of growing risks in the stablecoin sector. In its half-yearly Financial Stability report, released yesterday, the Federal Reserve said that stablecoins pose a growing […]
Cryptocurrency is an experimental technology. But it’s also a $2.5trn market with growing and increasingly complex linkages to the traditional financial system—whether through ETFs, the futures market, central clearing, repo […]
The market at the centre of the world’s financial system—repo—is witnessing record popularity. But it’s always prone to collapse, and now cryptocurrencies are joining the fray. The repo market The […]
Stablecoins—digital currencies pegged to existing money, like the dollar, euro, pound or gold—are the hottest topic in finance. From crypto-market dollars like Tether and Circle to Facebook’s Diem project and […]
Cryptocurrency has turned into an inferior version of the money Satoshi Nakamoto set out to replace. In the first bitcoin ‘block’, the cryptocurrency’s creator embedded a message: “The Times 03/Jan/2009 […]
The incredible boom in fintech and crypto banking is eroding long-standing protections for depositors and creating wider systemic risks. Deposit insurance and depositor preference If you deposit money in a […]
How much bitcoin trading takes place in ‘real money’? Not much. Most is hermetically sealed within the crypto ecosystem. Over two thirds of all bitcoin trading activity takes place in […]
Global financial regulators say the operators of digital tokens pegged to fiat currencies—stablecoins—must follow the stringent rules for other important financial infrastructures, such as payment systems, central securities depositories, securities […]
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