Speech by Mr Alexandre Tombini, Chief Representative, Representative Office for the Americas at the BIS

In his speech Jon Cunliffe reflects on recent crypto market developments. He goes on to talk about the work that authorities are doing on the regulation of crypto stablecoins and our work on a potential central bank digital currency.

The Federal Reserve Bank of New York’s New York Innovation Center (NYIC) and the Monetary Authority of Singapore (MAS) today announced Project Cedar Phase II x Ubin+, a joint experiment to investigate how wholesale central bank digital currencies (wCBDCs) could improve the efficiency of cross-border wholesale payments involving multiple currencies.

The BIS Innovation Hub is launching a new project around central bank digital currencies (CBDCs) and Decentralised Finance (DeFi) protocols as part of its 2022 work programme.

The world's major central banks and monetary authorities have kicked off studies into CBDC (Central Bank Digital Currencies) in recent years. Monetary authority of Singapore and Swedish central bank have undertaken or contemplated related pilot projects, and the People's Bank of China (PBC) is also actively exploring the possibility of introducing its CBDC in this second largest economy in the world. This article puts forward some thoughts on issuing CBDC in China.

Speech by Mr Christopher J Waller, Member of the Board of Governors of the Federal Reserve System, at the symposium "Digital Currencies and National Security Tradeoffs".