The technology behind the last decade’s cryptocurrency boom—blockchain—carries the seeds of its own destruction, say economists at the Bank for International Settlements (BIS). In a new bulletin, BIS economists Frederic […]
When applying sanctions to Russia’s central bank this week, the Bank for International Settlements (BIS) made a radical departure from the neutral stance it adopted during the second world war. […]
Last week’s $320m Wormhole hack raises serious questions about contagion risks between crypto and the broader financial markets. $320m of disappearing ether On February 2, an attacker exploited faulty code […]
Public infrastructures such as government identity schemes and payment systems can help address the risk of a big tech takeover of the digital economy, the Bank for International Settlements (BIS) […]
The booming decentralised finance (‘DeFi’) market suffers from an existential problem, says the Bank for International Settlements (BIS): it isn’t decentralised. Meanwhile, the contagion risks from DeFi to the rest […]
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 […]
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 […]
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 […]
The Bank for International Settlements (BIS) says new public policies are urgently needed to address the growing dominance of large technology firms in financial services. In a bulletin published on […]
Central banks are accelerating their planned introduction of new forms of digital money to head off the ambitions of large technology firms in this area. “There is a sense of […]