BIS Says Crypto Weaknesses Have Materialized Following Market Sell-Off

The Bank of International Settlements (BIS), the global body for central banks, claims the weaknesses in crypto that were pointed out before “have pretty much materialized.” BIS General Manager Agustin Carstens opined: “You just cannot defy gravity … At some point, you really have to face the music.” BIS on Crypto Weaknesses The Bank of […]

BIS: Crypto's 'Structural Flaws' Make It Unsuitable as Basis for Monetary System

But central banks are very keen to develop and control their own cryptocurrencies.

BIS: 90% of Central Banks are researching the utility of CBDCs

The institution's future monetary vision includes exploring innovations grounded in trust in central banks' stable sovereign currencies and safe payment systems.

BitMEX Co-Founder Arthur Hayes Warns of a Potential ‘Mega Crypto Dump’ Ahead – Here’s His Timeline

Former BitMEX CEO Arthur Hayes is warning that crypto assets face a precarious road as central banks across the globe pursue tight monetary policies.

IMF recommends eco-friendly CBDCs and non-PoW mechanisms for payments

In addition to eco-friendly components, the IMF recommended central banks to include other features in the CBDCs, such as compliance, higher resilience and offline capabilities. An International Monetary Fund (IMF) study on energy consumption revealed the importance of design choices within the crypto ecosystem to build an environmentally friendly mainstream payment system.In the study entitled “Digital Currencies and Energy Consumption,” the IMF examined the energy consumption of crypto assets based on their distinct design elements to evaluate the ideal mechanism for developing central bank digital currencies (CBDCs).

Basel Committee presses on with restrictive requirements for banks’ crypto holdings

The committee of central banks and regulators has proposed a “conservative prudential treatment” of crypto assets that banking groups say is prohibitive. The Basel Committee on Banking Supervision met Friday and discussed cryptocurrency, among other topics.