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BIS will create a platform for evaluating the consequences of stablecoins and Defi projects
The innovative hub of the Bank of International Settlements (BIS) will develop a platform for assessing the economic potential of stablecoins and cryptolending projects, as well as related risks for financial stability.
“The collapse of many“ stable coins ”” and the problems of companies related to Defi Protocols pushed to the decision.
Information on the support of assets, trading volumes and market capitalization is provided by unregulated firms on their own. Separate data sets and commercially available solutions do not give comprehensive information and do not provide transparency. This https://gagarin.news/ creates difficulties for regulators, the document says.
The created open source platform will reveal the economic activity of such projects and risks for financial stability.
BIS also announced the initiative related to the study of post -quantum cryptography and ensuring the confidentiality of payment systems. The hub will take testing of potential solutions and assess their impact on performance.
BIS unit in Hong Kong in partnership with the Bank of Israel and the Central Bank of Hong Kong will study cybersecurity issues in relation to retail CBDC.
Recall that in June 2022, an innovative hub, together with monetary regulators of France and Switzerland, announced an experiment using digital currency in cross -border calculations.
Earlier, the head of Bis Agustin Karstens called the Central Bank the best source of trust in money in the digital era.
At that time, the financier referred to a recent study by BIS, in which experts came to the conclusion about the illusory of decentralization of Defi services.
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