CRYPTOCURRENCY

Christopher Waller discusses the roles of centralized and decentralized finance, and whether they are substitutes or complementary to each other

Lesetja Kganyago reflects on progress in modernising payments, and South Africa’s efforts to modernise the payments ecosystem and reduce reliance on cash

Victoria Cleland discusses the benefits Legal Entity Identifiers (LEI) could enable for payments, the role that they can play in enhancing crossborder payments, and steps that could be taken to drive their...

Agustín Carstens and Nandan Nilekani lay out a vision for the Finternet, a user-centric, unified and universal financial ecosystem that is inclusive, innovative, participatory, accessible and affordable,...

Innovative, integrated and independent retail payments are crucial components of our monetary system. As payments transition into the digital era, Piero Cipollone discusses taking the Single Euro Payments...

We are at a pivotal moment in the evolution of money. Eddie Yue says regulators must remain open-minded, responsive, and prudent when considering CBDCs

Amidst the prospect of significant technological change in payments, Sarah Breeden sets out how the Bank of England seeks to deliver trust and support innovation, both as a provider and as a regulator...

Bitcoin has failed on the promise to be a global decentralised digital currency. Ulrich Bindseil and Jürgen Schaaf argue that the latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable...

The ECB’s Governing Council has decided to proceed with the ‘preparation phase’. Ulrich Bindseil, Piero Cipollone and Jürgen Schaaf focus on the debate around the impact of a digital euro on bank fund...

The payments system is being transformed. Piero Cipollone argues that central banks need to be at the vanguard of digital transformation to ensure financial stability

Technological change has been fast and foundational. Cecilia Skingsley discusses innovation and the future of central bank digital currencies

Jon Cunliffe recalls Facebook’s announcement in 2019 that it was launching a digital currency, and discusses the three areas where this galvanised more urgent action by authorities

Innovations in money and payments continue to be of primary importance. Michelle Bowman cautions against solutions that could disrupt and disintermediate the banking system

Cyril Monnet and Dirk Niepelt argue that in protecting the current banking model the ECB could be sacrificing the digital euro on the altar of banking as we know it

Crypto has failed to deliver on its promises. Fabio Panetta argues that the public sector should establish a comprehensive regulatory framework that addresses the risks with crypto

Crypto-promoters and financial authorities are split on the future of cryptocurrencies. Jon Danielsson argues that the efficiency of the financial system can be improved by adopting the best ideas from...

The European Central Bank says its digital currency will not be a store of value, in contrast to global counterparts. Rebecca Christie discusses the ECB’s digital euro strategy

Carolyn Wilkins talks about the three main design principles for a CBDC, it should focus on core public policy objectives, identify and mitigate financial stability risks, and set high standards for t...

Jon Cunliffe looks at four areas where the tokenisation of money is now being explored, examining the BoE’s work to ensure these new forms of money are robust and uniform

Andrew Bailey shares a series of recent lessons for monetary and financial stability, looking at how they all fit together and the challenges they pose

Michelle Bowman discusses innovation in the US financial system, the emerging trends that are shaping the industry, and the influence of regulatory approach on this evolution

Following the recent turmoil in the crypto sector Michael Barr discusses the Federal Reserve’s approach to supervision and regulation of banks’ crypto-related activities

Agustín Carstens considers a monetary system that embeds the best of new technology in the solid foundations of the current two-tiered structure

Georgios Petropoulos and Harang Ju write that tokenisation based on blockchain technology could bring radical changes to markets for goods and services

Jon Danielsson argues that cryptocurrencies have now reached the beginning of the end as the factors fuelling their success have come to a standstill

The BVI is a leading player in the global economy. Simon Gray says this demonstrates the strength and resilience of the financial services sector

Cryptoassets promise radical change in how people pay, save and invest. Fabio Panetta considers the bursting crypto bubbles and the destiny of digital finance

Jon Cunliffe reflects on recent crypto market developments, and discusses the work that authorities are doing on the regulation of crypto stablecoins and a potential CBDC

Recent turbulence has exposed vulnerabilities in the crypto space. Lael Brainard argues that for stability it is important to ensure the regulatory perimeter encompasses crypto finance

Jon Cunliffe sets out what he thinks are the lessons from the recent instability and losses in crypto markets – also called the ‘crypto winter’

Investment banks have operated in easy economic conditions over the last decade. Nat Benjamin says these banks must act now to prepare for challenges

Dirk Zetzsche, Linn Anker-Sørensen, Maria Lucia Passador and Andreas Wehrli provide an initial analysis of the legal challenges related to DLT-based payment systems

Fabio Panetta argues that bringing cryptoassets safely into the regulatory perimeter would promote innovation, whilst avoiding a new bubble

The crypto markets are in turmoil. Karel Lannoo believes the proposed regulatory framework is not the right remedy

Adapting central bank balance sheets to a world of digital currencies. Andrew Hauser argues that we need to understand these impacts and build them into the design of CBDCs

Graham Bright considers the global trade landscape post pandemic, and with current tensions says we should hope for the best outcome and plan for the worst

The British Virgin Islands has steadily increased its role in the global financial system. Elise Donovan discusses how the BVI will aid the post-COVID recovery

Jon Cunliffe reflects on the key lessons he has learnt about financial stability and highlights longer-term issues such as climate change and crypto

Agustín Carstens takes inspiration from Germany’s literary giant Goethe to reflect on the soul of money in the digital era

Lael Brainard pits the case for the role a US CBDC could play in bolstering financial stability as other countries issue their own CBDCs

Gordon Liao and John Caramichael the huge growth of stablecoins and consider the broad impacts on the financial system

Jon Cunliffe discusses the impact that crypto technologies could have on post-trading infrastructure

Jon Danielsson argues that the implications for the future of cryptocurrencies will be considerable

Christopher Waller reflects on stablecoins, and raises the risks and benefits they have, in particular the lack of a regulatory and supervisory framework

Monetary transformations through history have been driven by changing technology. Michael Bordo argues that technological change is inevitable

Jon Cunliffe looks at the impact of ‘crypto’ on the stability of the UK’s financial system and asks whether the world of ‘crypto finance’ poses risks to financial stability

Marianne Bechara, Wouter Bossu, Yan Liu, and Arthur Rossi consider the key legal issues central banks face on their governance

The payment system is changing in profound ways. Christopher Waller asks if a CBDC would address any of the problems

The Bank of England has issued banknotes for over 300 years. Jon Cunliffe talks about future of money in the UK in an increasingly digital world

Christina Segal-Knowles talks about stablecoins. She looks at how they could be regulated if they are used as a form of payment

Cryptocurrencies have foreshadowed a potential digital future for money. Graham Bright sees blockchain as an enabler in the growth of the financial system and digital money

From a traditional financial services centre to a global fintech hub, Simon Gray charts the emergence of the BVI as an innovation and investment hotspot across the fintech and digital space

Does the economy need digital currencies? Agustín Carstens asks who should issue them, how should they be designed and what are the implications for the monetary system?

Crossborder payments are at the heart of the international monetary system. Tao Zhang considers the implications for monetary and financial stability of new forms of digital money

The digital transformation is triggering a revolution in the financial sector, which will bring innovation but also risks, says Fabio Panetta. The ECB strategy provides a forceful policy reaction

Developments in digital finance could transform how consumers and businesses make payments and raise finance. This could help revitalise the UK economy, says Andy Haldane.

Simon Gray discusses the benefits of embracing digital innovation to help drive economic recovery

Hanna Halaburda, Guillaume Haeringer, Neil Gandal and Joshua Gans summarise the main research findings to establish a base for future research

Andrew Bailey looks at recent innovations in payments and the challenges they bring, reiterating the Bank of England’s interest in CBDCs and stablecoins

New technologies are disrupting every corner of the financial sector. Benoît Cœuré focuses on the role that central banks are playing in ensuring that technological innovation is a force for good

Denis Beau argues it is unlikely that banks will be erased from a future payments landscape in which stablecoins and central bank digital currency dominate