Digital assets and central bank digital currencies could provide alternative payment solutions for consumers and should supplement rather than replace existing methods. But precisely how central banks should be involved in this emerging digital finance ecosystem is still a matter of debate. Different viewpoints on the topic were aired in a panel discussion at OMFIF’s Digital Monetary Institute symposium on 11 May.
How to insure against the risk of stablecoin runs By Ezechiel Copic The news that TerraUSD, one of the largest algorithmic stablecoins with a market cap once above $18bn, broke its peg to the dollar has reverberated throughout financial markets. Now is the time to task the FDIC with analysing a new federal stablecoin insurance programme.
MEETINGS Looking ahead to the June FOMC meeting Thursday 16 June, Broadcast Bill Dudley, chair of the Bretton Woods Committee and former president of Federal Reserve Bank of New York and vice-chairman of the Federal Open Market Committee from 2009-18, joins Mark Sobel, US chairman of OMFIF, to discuss the June FOMC meeting.
ON DEMAND Regulating cryptoassets At the Digital Monetary Institute symposium, Philip Middleton, DMI chairman, spoke with Ashley Alder, chief executive officer of the Securities and Futures Commission. They discussed the need to balance innovation in digital finance with ensuring stability in the wider economy.
Data: Towards a new age of economic enlightenment As regulators and policy-makers work to balance protection and innovation in their evolving frameworks, this landmark report explores the use of data and its potentially transformative impact on developments in the global economy, financial services, the business community and society as a whole.
