Article: China Suggests Worldwide CBDC Rules

Crypto

China Suggests Worldwide CBDC RulesChina Suggests Worldwide CBDC Rules

The rules deal with issues such as CBDC use, monitoring and information sharing, according to Reuters. People’s Bank of China (PBOC) Director General of the Digital Currency Institute Mu Changchun presented the new rules at a recent Bank for International Settlements (BIS) seminar.

He said there should be interoperability between CBDC systems of different jurisdictions and exchange. He also said information flow should be “synchronized” in order to allow regulators the ability to monitor the transactions for compliance, Reuters reported.

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Article: DeFi – CeFi Convergence & ‘Explosive’ Growth Are Coming – BIS Summit Panel

Blockchain, Innovation

DeFi - CeFi Convergence & 'Explosive' Growth Are Coming - BIS Summit Panel 101DeFi – CeFi Convergence & ‘Explosive’ Growth Are Coming – BIS Summit Panel

Decentralized finance (DeFi) and centralized finance (CeFi) are heading towards convergence as we are entering a period of rapid development for DeFi applications worldwide, according to the participants of a panel discussion at this year’s BIS Innovation Summit, an event hosted by the Bank for International Settlements (BIS).

The panel, entitled ‘CeFi to DeFi: can global finance be de/re-constructed?’, featured a mix of private and public sector participants who voiced their ideas and concerns related to how the opportunities and risks inherent to DeFi could transform the global financial landscape.

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