{"id":79862,"date":"2023-06-07T13:38:02","date_gmt":"2023-06-07T10:38:02","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=79862"},"modified":"2025-09-11T13:27:38","modified_gmt":"2025-09-11T10:27:38","slug":"reserve-bank-of-australia-signals-a-more-prominent-role-for-stablecoins-in-the-economy","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/reserve-bank-of-australia-signals-a-more-prominent-role-for-stablecoins-in-the-economy\/","title":{"rendered":"Reserve Bank of Australia signals a more prominent role for stablecoins in the economy"},"content":{"rendered":"

Stablecoins have the potential to occupy a more prominent role in the financial system. This is stated in a \u043f\u0440\u043e\u0435\u043a\u0442\u0435 \u0437\u0430\u043a\u043e\u043d\u0430<\/a> by the Reserve Bank of Australia (RBA) bill on regulating crypto exchanges, custodial services and the issuance of “stablecoins”.<\/p>\n

The bulk of the document is devoted to stablecoins. The central bank sees the potential of the asset class, recognising the need to develop a regulatory framework.<\/p>\n

\n

\u00abThe RBA supports the development of regulatory mechanisms for ‘stablecoins’ that support innovation, providing proper guarantees for investors and users,<\/em> \u2014 the document says.<\/p>\n<\/blockquote>\n

The central bank noted that stablecoins could \u00abwidely be used for payments\u00bb.<\/p>\n

The regulator has not decided on the issuance CBDC<\/a>, but is engaged in active research<\/a> in this area, the document says. The central bank noted that national digital currencies could enhance the efficiency of domestic payment systems and be used in cross-border payments.<\/p>\n

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\u00abIn the future, CBDCs could be issued to non-residents and potentially used outside the issuer’s jurisdiction\u00bb,<\/em> the document says.<\/p>\n<\/blockquote>\n

The RBA also did not rule out Australians using foreign national digital currencies. This could require data collection from authorised institutions that take deposits, such as banks and credit unions. <\/p>\n

The regulator has signalled that it will not approve fintech firms and foreign central banks in this capacity.<\/p>\n

In March 2022, local ANZ Bank launched<\/a> the stablecoin A$DC.<\/p>\n

In January 2023, the media reported<\/a> on National Australia Bank’s work to create a backed ‘stablecoin’ AUDN.<\/p>\n","protected":false},"excerpt":{"rendered":"

Stablecoins have the potential to occupy a more prominent role in the financial system. This is stated in the Reserve Bank of Australia (RBA) bill regulating crypto exchanges, custodial services and the issuance of “stablecoins”.<\/p>\n","protected":false},"author":1,"featured_media":79863,"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":[108,1095,36,807],"class_list":["post-79862","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-australia","tag-cbdc","tag-regulation","tag-stablecoins"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79862","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=79862"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79862\/revisions"}],"predecessor-version":[{"id":79864,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/79862\/revisions\/79864"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/79863"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=79862"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=79862"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=79862"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}