On May 18, the Bank of England released a staff working paper, laying out various scenarios of possible risks and financial stability issues of central bank digital currencies (CBDCs). Continue reading Bank of England Issues Working Paper on Central Bank Digital Currencies
The Bank of Korea is set to announce details of an ongoing study into cryptocurrencies next month that includes a plan exploring the possibility of issuing a central bank digital currency (CBDC). In a statement on Wednesday, the Bank of Korea confirmed it was in the “early stages” of studying cryptocurrencies and the implications of issuing them as a central bank, the Korea Times reported. Continue reading Bank of Korea Hints at Issuing a Central Bank Digital Currency
A form of central bank issued digital currency (CBDC) could go live this year, according to Antony Lewis, R3 director of research, cash and CBDC strategy, speaking on panel of experts at the Deconomy conference this week at the Walkerhill Hotel in South Korea. Continue reading Central Bank Digital Currency Could Go Live This Year
The Central Bank of Malaysia (BNM) officially stated that they do not endorse crypto platform Coinzer and its unlicensed logo design on March 11. According to BNM’s press release, Coinzer used the unauthorized images of the BNM logo and the Malaysian coat of arms on the physical design proposition for the coin, its white paper, and its website. BNM adds that crypto investments are risky and are not considered legal tender in Malaysia. Continue reading Malaysia’s Central Bank Rebukes ICO For Unauthorized Use Of Its Logo
Singapore’s central bank has said it is again looking at cryptocurrency regulation, appearing to amend previous comments about a hands-off approach, Reuters reported Thursday, March 1. Part of a speech quoted by various publications Thursday saw the Monetary Authority of Singapore (MAS) deputy managing director Ong Chong Tee note an “assessment” about possible new regulations of cryptocurrency in the city-state. “We are assessing if additional regulations are required for investor protection,” he said. The latest comments contrast with those of Singapore’s deputy prime minister Tharman Shanmugaratnam, who in early February 2018 told parliament that there were “no systematic risk concerns” posed by the phenomenon to the banking sector or wider economy. While Shanmugaratnam added authorities continued to “closely study” Bitcoin and associated assets, Shanmugaratnam made no mention of regulation being on the horizon.