Phase II of Project Helvetia was focused on the settlement of tokenised assets in a Wholesale CBDC (wCBDC). Project Helvetia is a collaboration between the SNB, BIS Innovation Hub, SIX (the Swiss Exchange) and 5 large commercial banks. SIX already offers trading and settlement of "tokenised assets", but using privately issued forms of digital currencies [...]
NASDAQ releases a useful summary of all things crypto and regulatory. Please see the link to download the guide (and a few more documents on that topic) here: https://www.nasdaq.com/crypto-regulation-summary#resource-center
We attach the links a CBDC initiative in Australia: Project ATOM - Wholesale CBDC for Syndicated Lending Please see the link to Project ATOM conclusions here: https://www.rba.gov.au/payments-and-infrastructure/central-bank-digital-currency/pdf/project-atom-report_2021-12.pdf
Project Jura explores the direct transfer of Euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. [...]
The Centre for Economic Policy Research (CEPR) publishes a compendium of articles on the CBDC topic, delving into the key considerations for the creation of CBDC and their operation. The authors are academics and experts from monetary authorities and international organisations. The eBook attempts to serve as a guide for policymakers and market participants in [...]
The World Economic Forum - Digital Currency Governance Consortium (WEF - DCGC) publishes a compendium report on CBDC and Stablecoins. The report comprises eight distinct white papers, grouped into three themes: 1. Regulatory Choices 2. Value Proposition for the Under-served 3. Technology Choices The report can be accessed and downloaded from: https://www.weforum.org/reports/digital-currency-governance-consortium-white-paper-series
Banque de France (BdF), MAS and JP Morgan ONYX worked together on the design of multi-currency corridors using CBDCs, DLT and Smart Contracts technology. They propose an architecture to facilitate PvP ("payment versus payment") for FX transactions, in an inter-operable clouds infrastructure (public + private) working as a network. The solution design offers a common [...]
Banque de France (BdF) published a first report focusing on the integration of a CBDC into innovative procedures for the exchange and settlement of financial assets, based on new technologies such as Distributed Ledger Technologies (DLT), and in a multi-currency and cross-border setting. The report covers nine experiments, selected from close to 40 proposals, which [...]
The report recommends urgent actions in several domains: - Legislation - to address prudential risks, Stablecoins ought to be under appropriate federal supervision and oversight - User protection and run risk - Payment systems risk - Systemic risk and interconnectivity issues The report highlights in particular the "Illicit Finance Risk": fraud risk, AML/CFT, tax (IRS) [...]
The BIS and the Group of Central Banks (list below) published a few documents on the operation of CBDCs (Central Bank Digital Currencies) for their use in Retail Banking. The address for the executive summary is: https://www.bis.org/publ/othp42.pdf Bank of Canada European Central Bank Bank of Japan Sveriges Riksbank Swiss National Bank Bank of England Board [...]
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