US Federal Reserve discussion paper takes cold, hard look at DeFi, gives it m...
The authors see DeFi growing despite barriers such as crypto’s volatility; risks to users and TradFi institutions are inherent in the technology as well as incidental. There are more than 1,400 DApps in operation and their number is growing rapidly, according to a United States Federal Reserve Board discussion paper dated in June but released on Aug. 30. Ethereum is their biggest host with 470, or 31%, of them. Those decentralized finance (DeFi) products represent a very small share of the global financial system, but may still pose risks to financial stability, the authors said.The....
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The Federal Reserve has published new research on distributed ledger tech. The paper, which explores applications of the technology in payments and transaction settlement, was drafted by teams from the Federal Reserve Board as well as the Federal Reserve Banks of New York and Chicago. Though research has been published in the past by members of the Federal Resrve system, most notably the Federal Reserve Banks from Boston and Chicago, the paper's release represents the first major release from the Federal Reserve Board. Overall, the research casts a wide net, including both a top-down view....
The regulatory arm of UAE’s financial centre, Abu Dhabi Global Market (ADGM), has released a discussion paper that is seeking stakeholders’ comments regarding the regulation of decentralized finance (defi). The paper also makes clear the regulator’s stance regarding the anonymity of defi transactions.
Paper Not Guidance for Financial Institutions
The FSRA, a regulatory arm of the UAE financial centre ADGM, has issued a discussion paper that seeks the public’s comments on policy considerations for decentralized finance (defi).
The release....
The U.S. Federal Reserve is showing strong interest in attributes of distributed ledger technology (DLT). The private central banking entity has just released a paper that explores the agencies research on blockchain based settlement. Federal Reserve Research Team Paper Focuses on Blockchain Technology. The report issued by the Federal Reserve Board....
A multi-disciplinary research team from the Board of Governors of the Federal Reserve System, the Federal Reserve Bank of New York, and the Federal Reserve Bank of Chicago, after conducting interviews with “approximately 30 key industry stakeholders, including market infrastructures, financial institutions, other government agencies, technology start-ups, more-established technology firms, and industry consortia,” stated in a recently published paper that, although it is unlikely, the “use of banks to conduct payments could become obsolete,” by the use of blockchain technology. The....
Like a Rorschach ink blot, the Federal Reserve Board’s CBDC discussion paper provided stakeholders with an opportunity to find what they wanted to see in it. In January, the United States Federal Reserve Board of Governors released a discussion paper on a potential U.S. central bank digital currency (CBDC) titled “Money and Payments: The U.S. Dollar in the Age of Digital Transformation.” The comment period for the paper ended May 20, with the Fed receiving over 2,000 pages of comments from individuals alongside responses from leading stakeholders.Cointelegraph read a selection of....