Category: Central Banks

A Call for Rule-making for ICOs in Japan

ICO Business Research Group | Apr. 5, 2018
Japan’s ICO Business Research Group — a task force that includes lawmakers, academics, bankers, and CEO of bitFlyer, Japan’s largest cryptocurrency exchange — has called for the government to legalize ICOs and adopt clear industry rules and practices that encourage growth and protect investors.

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Crypto’s Wild Ride

L2inc, Scott Gallow and David Yermack | Mar. 29, 2017
L2inc’s Scott Galloway discusses the future of alt-coins and the volatility of the market with NYU Stern finance professor David Yermack.

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A Closer Look at Central Bank Digital Currencies

BIS Committees on Payments and Market Infrastructure | Mar. 2018
Central banks must carefully weigh the implications for financial stability and monetary policy of issuing digital currencies, according to a report from the Bank of International Settlements’ Committee on Payments and Market Infrastructures (CPMI) and the Markets Committee. The report considers a wholesale CBDC (for use in financial markets), and a general purpose CBDC (for use by the general public) and their implications for payments, monetary policy and financial stability. Wholesale CBDCs might be useful for payments but more work is needed to assess the full potential, concludes the report. Although a CBDC would not alter the basic mechanics of monetary policy implementation, its transmission could be affected. A general purpose CBDC could have wide-ranging implications for banks and the financial system. The report concludes that each jurisdiction considering the launch of a CBDC should carefully and thoroughly consider the implications before making any decision.

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