BIS Working Papers No 902 An early stablecoin? The Bank of Amsterdam and the governance of money
Summary
Trust is the bedrock of a sound monetary system. This paper examines the rise and fall of the Bank of Amsterdam (1609-1820) to gain insights on the central bank underpinnings of money. It sheds light on the governance of digital currencies. ... This holds lessons for the governance of digital money.
A central bank task force will soon present results on the introduction of digital money, announces ECB President Christine Lagarde. ... The EU Commission will present its proposal for a legal and regulatory framework for crypto currencies in two weeks. ... Where the financial market stability is endangered, the crypto-currencies must be forbidden. Only the ECB could issue a currency in the euro zone. Only a strict regulation could make this possible. Stablecoins would have to be tied to the euro or another EU currency in a one-to-one ratio. Reserves deposited as security would have to be deposited with a credit institution in the EU and be denominated in EU currency.
CBDC ::: Central Bank Digital Currencies: foundational principles and core features // in a series of collaborations from a group of central banks FED; ECB BIS etc.
Greg!!! I’m up at 230 am pacific and the 10 year is shitting the bed!!!! Gulp
November 16, SEC chief Clayton to call it quits at the end of 2020
https://www.reuters.com/article/us-usa-sec-clayton/sec-chief-clayton-to-call-it-quits-at-the-end-of-2020-idUSKBN27W1IQ
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BIS Working Papers No 902 An early stablecoin? The Bank of Amsterdam and the governance of money
Summary
Trust is the bedrock of a sound monetary system. This paper examines the rise and fall of the Bank of Amsterdam (1609-1820) to gain insights on the central bank underpinnings of money. It sheds light on the governance of digital currencies. ... This holds lessons for the governance of digital money.
https://www.bis.org/publ/work902.pdf
...
A central bank task force will soon present results on the introduction of digital money, announces ECB President Christine Lagarde. ... The EU Commission will present its proposal for a legal and regulatory framework for crypto currencies in two weeks. ... Where the financial market stability is endangered, the crypto-currencies must be forbidden. Only the ECB could issue a currency in the euro zone. Only a strict regulation could make this possible. Stablecoins would have to be tied to the euro or another EU currency in a one-to-one ratio. Reserves deposited as security would have to be deposited with a credit institution in the EU and be denominated in EU currency.
To TRANSLATE the german article use for example DeepL.com/Translator
https://www.faz.net/aktuell/finanzen/digital-bezahlen/ezb-macht-ernst-mit-dem-digitalen-euro-16948999.html?utm_campaign=GEPC%253Ds6&utm_content=buffer4ab75&utm_medium=social&utm_source=facebook.com
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CBDC ::: Central Bank Digital Currencies: foundational principles and core features // in a series of collaborations from a group of central banks FED; ECB BIS etc.
https://www.bis.org/publ/othp33.pdf
ECB - Report on a digital euro
https://www.ecb.europa.eu/pub/pdf/other/Report_on_a_digital_euro~4d7268b458.en.pdf
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digital currencies: Bank of Japan & People’s Bank of China (PBoC)
https://blockchain.news/news/how-far-away-is-japans-cbdc-bank-of-japan-meets-with-monetary-authorities-on-potential-digital-yen-issuance