
FSB to more closely scrutinize decentralized finance
The Financial Stability Board this week laid out several steps it will take in the future to evaluate and possibly reduce the financial stability risks posed by decentralized finance, or defi.
The Financial Stability Board this week laid out several steps it will take in the future to evaluate and possibly reduce the financial stability risks posed by decentralized finance, or defi.
Crypto is still an outlier in the product line for many banks. But a few have made big commitments.
Banks and other financial institutions must engage in a safe and sound manner in any activity they do, and that includes dealing in cryptocurrency, Federal Reserve Governor Christopher Waller said this week.
The Federal Reserve this week released guidelines for how it would evaluate requests from state-charted but non-FDIC-insured financial institutions seeking to engage in novel activities, such as those involving cryptoassets.
What’s on the horizon for bank innovation and fintech in 2023? ABA’s Office of Innovation team explores top tech trends for the year ahead.
Central banks seeking to rein in crypto risks could pursue strategies ranging from regulation to outright bans of the technology, all of which have pros and cons, according to a new bulletin by the Bank for International Settlements.
With uncertainty the rule, the best advice is to have banks’ change-management processes ready for whatever comes.
Events of the past year have highlighted several key risks posed by cryptoassets that banks should consider if they wish to offer crypto-related services, the Federal Reserve, FDIC and the Office of the Comptroller of the Currency said today in a joint statement.
BCBS says the standard provides a “robust and prudent global regulatory framework” for internationally active banks’ cryptoasset exposures.
Thee American Bankers Association said it supported the recommendations in two recent reports on establishing a proposed framework for the international regulation of cryptoasset activities, but the association also had some recommendations for what should be included in the final framework.