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"A key risk are the potential gaps in central banks’ internal capabilities and skills," the report by the BIS Consultative Group on Risk Management said. The central banks of Brazil, Canada, Chile, Colombia, Mexico, Peru and the United States are represented in the group. Source
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A recent report from Project Tourbillon, led by the Bank for International Settlements’ Innovation Hub, reveals significant advancements in balancing privacy and transparency in CBDCs. Project Tourbillon, an initiative spearheaded by the Bank for International Settlements’ (BIS) Innovation Hub in Switzerland, has made significant strides in the realm of central bank
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Issuance of a central bank digital currency (CBDC) requires adequate attention to security, the Bank for International Settlements (BIS) reminded central bankers in a report on Nov. 29. An integrated risk-management framework should be in place starting at the research stage, and security should be designed into a CBDC, the
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The Bank for International Settlements (BIS) Innovation Hub has presented the final report on its private central bank digital currency (CBDC) initiative, Project Tourbillon. The prototypes built in the project’s framework could allow payment anonymity for CBDC transactions.The 46-page report, published on Nov. 29, explores the concepts of privacy, security
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When considering the design of a CBDC, people will also have to grapple with difficult questions on choice, inclusion and stability, Skingsley said. But "innovation usually takes us to new places and opens up possibilities that were not there until a new technological breakthrough has happened," she added. Source
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Stablecoins lack crucial mechanisms that guarantee money market stability in fiat, and an operational model that gave regulatory control to a central bank would be superior to private stablecoin, a study released by the Bank for International Settlements (BIS) found. The authors used a “money view” of stablecoin and an
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A recent report by the Bank for International Settlements raises concerns about stablecoins’ ability to maintain parity with their pegged assets, challenging their stability and reliability as a digital currency. In a recent report by the Bank for International Settlements (BIS), stablecoins, a type of cryptocurrency pegged to assets like the
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The Bank of International Settlements (BIS), a coalition of the world's central banks, criticized stablecoins as being "not a safe store of value" in its latest research report dated Nov. 8.In outlining its reasons, the BIS explained that from January 2019 to September 2023, fiat-backed stablecoins maintained their peg ratio
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For stablecoins to be able to be used as a means of exchange they should be able to maintain their value during the day, economists at the Bank for International Settlements said. Source
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