カテゴリー: financial stability

24 Countries and IMF Discuss Global Standards of Crypto Regulation

24 Countries and IMF Discuss Global Standards of Crypto RegulationTwenty-four financial authorities and 11 international organizations, including the International Monetary Fund and the World Bank, recently gathered in New York and discussed global standards of crypto regulation. “It is important to consistently implement international standards,” said the chairman of South Korea’s top financial regulator who attended the meeting. Also read: Indian Supreme Court Postpones […]

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Basel Committee Sets out Guidelines for Banks Intending to Enter Crypto Market

Basel Committee Sets out Guidelines for Banks Intending to Enter Crypto MarketThe Basel Committee has laid out guidelines for banks that plan to enter the cryptocurrency market. While outlining the supposed threats posed by crypto assets in terms of financial stability, the committee has said it expects banks that are going to have direct exposure to the crypto industry to be prudent in their approach. As […]

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Basel Committee Sets out Guidelines for Banks Intending to Enter Crypto Market

Basel Committee Sets out Guidelines for Banks Intending to Enter Crypto MarketThe Basel Committee has laid out guidelines for banks that plan to enter the cryptocurrency market. While outlining the supposed threats posed by crypto assets in terms of financial stability, the committee has said it expects banks that are going to have direct exposure to the crypto industry to be prudent in their approach. As […]

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South Korea Central Bank Says CBDCs Will Disrupt Financial Integrity

South Korea Central Bank Says CBDCs Will Disrupt Financial IntegritySouth Korea’s central bank has warned that adopting a state-backed cryptocurrency as an official form of legal tender would threaten the country’s financial integrity. In a report, the Bank of Korea (BoK) said such a currency, also known as a central bank digital currency (CBDC), could result in a spike in interest rates and a […]

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Report: Indian Government Concerned Cryptocurrencies Could Undermine the Rupee

Report: Indian Government Concerned Cryptocurrencies Could Undermine the RupeeThe Indian government panel tasked with drafting crypto regulation is reportedly worried that cryptocurrencies could destabilize the rupee if they are accepted as payments. Its concern came to light despite evidence that cryptocurrencies do not currently pose a threat to financial stability. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations Impact on […]

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Wendy McElroy: Free-Market Law Enforcement for Crypto

Free-Market Law Enforcement for CryptoThe Satoshi Revolution: A Revolution of Rising Expectations. Section 4: State Versus Society Chapter 9, Part 6 Government is a law factory. It passes laws in the same manner that another type of factory extrudes metal molding…But, whereas a factory which extrudes metal molding is providing a product which is useful to the citizens generally, […]

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G20 Asks FATF to Clarify AML Standards for Cryptocurrencies

G20 Asks FATF to Clarify AML Standards for CryptocurrenciesFinancial ministers and central bankers from the G20 states met over the weekend in Argentina to discuss the challenges for the global economy. They reiterated their position that cryptocurrencies do not pose a risk to the financial stability. The officials also called on the Financial Action Task Force to clarify by October how its anti-money […]

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G20 Watchdog Unveils Framework to Monitor Crypto

G20 Watchdog Unveils Framework to Monitor CryptoA framework has been developed for the G20 countries to “monitor the financial stability implications of crypto-assets markets.” The Financial Stability Board says cryptocurrencies “do not pose a material risk to global financial stability” but supports their “vigilant monitoring.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space G20’s Crypto Monitoring Framework The Financial Stability […]

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Cryptocurrencies Not a Risk to Stability, Russian Study Concludes

Cryptocurrencies Not a Risk to Stability, Russian Study ConcludesA study has found that despite their volatility, cryptocurrencies do not endanger the financial system and the economy of Russia, as the risks are offset by the highly concentrated ownership of digital assets. Crypto fluctuations are not believed to affect consumption either. Russian residents have controlled cryptocurrency worth between $7.5 and $14 billion in the […]

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Bank of Japan Turns Back on State-Issued Cryptocurrency

Bank of Japan Turns Back on State-Issued CryptocurrencyThe Bank of Japan has become the latest government financial institution to recognize the risks of state-issued cryptocurrencies. According to its Deputy Governor Masayoshi Amamiya, a national digital coin may jeopardize the traditional financial system established in developed countries. The Japanese central bank has no plans to issue its own crypto, he said. Also read: […]

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