Features Crypto News by Thebittimes.Com

A recent report from Project Tourbillon, led by the Bank for International Settlements’ Innovation Hub, reveals significant advancements in balancing privacy and transparency in CBDCs. Project Tourbillon, an initiative spearheaded by the Bank for International Settlements’ (BIS) Innovation Hub in Switzerland, has made significant strides in the realm of central bank digital currencies (CBDCs). The project’s primary focus is on maintaining user privacy in digital currency transactions, a critical and complex issue in the landscape of digital finance. The recently published final report from Project Tourbillon reveals a nuanced approach to privacy in CBDC transactions. It proposes a system where users can execute payments without disclosing personal information to merchants or other parties. Latest BIS Americas Office report explores #OperationalRisk and #CyberRisk facing #CentralBanks issuing a #CBDC and suggests tools and processes to identify and mitigate them...

The international financial institution has strong concerns about the ability of these emerging economies to monitor the digital asset market as well as assess their financial stability risks . advertisement BIS Report Details Crypto Risks These fears were amplified in the report released by the Consultative Group of Directors of Financial Stability (CGDFS) on Tuesday.  The report which was titled “Financial Stability risks from crypto assets in emerging market economies” was conducted by BIS member central banks within the CGFDS. The central banks of Argentina, Brazil, Chile, Canada, Colombia, and the United States were some of the participants in the study. Precisely, the report explained that crypto currencies like Bitcoin (BTC), Ethereum (ETH), and others are often promoted as a quick solution to financial challenges with an “illusory appeal. Recommended Articles ...