The Bank of International Settlements has lashed the “structural flaws” in crypto while calling on central banks to adopt and control its new capabilities.
. Central bank digital currencies and retail fast payment systems can serve the public interest through greater convenience and lower costs, while maintaining the system’s integrity, it said.
This could soon involve “superior technological representations of M0 ”, including wholesale and retail CBDCs, which will offer benefits of crypto, including immediate settlement to reduce counter-party risk. BIS pointed to 28 pilots under way to issue retail CBDCs, including one by the People’s Bank of China, which now counts 261 million users., who will travel to Switzerland this week to meet other central bank governors, has discussed the importance of “tokens” in his recent speeches on payments.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Big-four bank mortgage market share raided as refinancing boomsNew PEXA data show the big-four banks are losing thousands more refinancing deals than they are winning each month.
Read more »
How investors are playing the big bank sell-offWhile some analysts and fund managers are viewing the decline as a buying opportunity, others are avoiding the sector amid sharp interest rate increases.
Read more »
Reserve Bank of Australia warns borrowers to expect more interest rate risesRBA governor Philip Lowe says rates are still very low for an economy with low unemployment and high inflation
Read more »
Reserve Bank says inflation is increasingly coming from within Australia and not from overseasThe RBA admits it suffered 'reputational damage' when it tried to wind back its COVID-19 pandemic stimulus program.
Read more »
Funeral disruptor defies deadly market conditions to bank $10mPerennial Partners and Ord Minnett Private Capital have led Bare’s capital raise, with support from ex-NBA star Andrew Bogut.
Read more »
Bank of mum and dad fuels $34 billion mortgage ‘headache’ - realestate.com.auFirst homebuyers who were bankrolled by their parents could be in danger of losing a roof over their heads now that property prices are falling, research shows.
Read more »