{"id":63151,"date":"2022-06-20T11:55:52","date_gmt":"2022-06-20T08:55:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=63151"},"modified":"2025-09-05T22:23:39","modified_gmt":"2025-09-05T19:23:39","slug":"bis-to-build-platform-to-assess-the-fallout-from-stablecoin-collapses-and-defi-projects","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-to-build-platform-to-assess-the-fallout-from-stablecoin-collapses-and-defi-projects\/","title":{"rendered":"BIS to build platform to assess the fallout from stablecoin collapses and DeFi projects"},"content":{"rendered":"<p>The BIS Innovation Hub will develop a platform to assess the economic potential of stablecoins and crypto-lending projects, as well as the risks they pose to financial stability.<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/hashtag\/BISInnovationHub?src=hash&#038;ref_src=twsrc%5Etfw\">#BISInnovationHub<\/a> upcoming Eurosystem Centre will lead projects in quantum cryptography, cryptocurrency markets intelligence and climate disclosure transparency. The HK Centre starts a new retail <a href=\"https:\/\/twitter.com\/hashtag\/CBDC?src=hash&#038;ref_src=twsrc%5Etfw\">#CBDC<\/a> investigation and phase 2 of Project Genesis. <a href=\"https:\/\/t.co\/mgMKoJEPBa\">https:\/\/t.co\/mgMKoJEPBa<\/a> <a href=\"https:\/\/t.co\/7nU1uwwfgS\">pic.twitter.com\/7nU1uwwfgS<\/a><\/p>\n<p>\u2014 Bank for International Settlements (@BIS_org) <a href=\"https:\/\/twitter.com\/BIS_org\/status\/1537770797758140416?ref_src=twsrc%5Etfw\">June 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div>\n<\/figure>\n<p>The move was prompted by the collapse of many &#8216;stablecoins&#8217; and problems facing DeFi-protocol-linked firms.<\/p>\n<p>Information on asset backing, trading volumes, and market capitalization is provided by unregulated firms on a voluntary basis. Separate datasets and commercially available solutions do not provide exhaustive information or ensure transparency. This creates difficulties for regulators, the document says.<\/p>\n<p>The open-source platform will enable disclosure of the economic activity of such projects and the risks to financial stability.<\/p>\n<p>BIS also announced an initiative to study post-quantum cryptography and to ensure the privacy of payment systems. The Hub will test potential solutions and assess their impact on performance.<\/p>\n<p>BIS\u2019s Hong Kong office, in partnership with the Bank of Israel and the Hong Kong Monetary Authority, will study cybersecurity issues related to retail <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-central-bank-digital-currency-cbdc\">CBDC<\/a>.  <\/p>\n<p>In June 2022, the Innovation Hub, together with monetary regulators in France and Switzerland, announced a pilot of using a digital currency in cross-border settlements.<\/p>\n<p>Earlier BIS head Augustin Carstens <a href=\"https:\/\/forklog.com\/en\/news\/bis-chief-says-central-banks-are-the-best-source-of-trust-in-money-in-the-digital-age\">named<\/a> central banks as the best source of trust in money in the digital age.<\/p>\n<p>At the time, the BIS head referred to a recent BIS study, in which experts concluded that the decentralisation of DeFi services is illusory. <\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The BIS Innovation Hub will develop a platform to better assess the economic potential of stablecoins and crypto-lending platforms, as well as the risks to financial stability.<\/p>\n","protected":false},"author":1,"featured_media":63152,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1430,1348,852],"class_list":["post-63151","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-celsius-network","tag-terra"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63151","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=63151"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63151\/revisions"}],"predecessor-version":[{"id":63153,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/63151\/revisions\/63153"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/63152"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=63151"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=63151"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=63151"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}