{"id":85357,"date":"2023-10-04T18:32:47","date_gmt":"2023-10-04T15:32:47","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=85357"},"modified":"2025-09-12T22:47:58","modified_gmt":"2025-09-12T19:47:58","slug":"bis-develops-global-system-to-monitor-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bis-develops-global-system-to-monitor-cryptocurrencies\/","title":{"rendered":"BIS Develops Global System to Monitor Cryptocurrencies"},"content":{"rendered":"<p>The Bank for International Settlements (BIS)<a href=\"https:\/\/www.bis.org\/publ\/othp76.htm\"> presented<\/a> a proof of concept for a dynamic mapping system of the circulation of digital assets.<\/p>\n<p>In 2018, work on the Atlas project was initiated by specialists from the Dutch central bank.<\/p>\n<p>The platform is designed to help authorities gain a clear picture of how, when and where cryptocurrencies are used.<\/p>\n<p>The toolkit includes a number of dashboards. For example, the amount of BTC converted to fiat at a given time in specific parts of the world.<\/p>\n<p>Atlas aggregates data from both public blockchains and off-chain sources such as exchanges and individual participants.<\/p>\n<p>Reuters noted the relevance of the development amid growing regulator concerns about the &#8216;risks&#8217; posed by cryptocurrencies due to their decentralized nature in light of the collapses<a href=\"https:\/\/forklog.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\"> FTX<\/a> and<a href=\"https:\/\/forklog.com\/en\/news\/terras-death-spiral-how-and-why-luna-and-ust-collapsed\"> Terra<\/a>.<\/p>\n<p>The platform&#8217;s data provide a rough picture of activity, as they do not fully cover wallets being created.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abInitial analysis shows that cross-border flows are economically significant and unevenly distributed across geographic regions\u00bb,<\/em> <em>\u2014<\/em> BIS said.<\/p>\n<\/blockquote>\n<p>Such macro statistics are valuable for central banks in the context of economic analysis and balance-of-payments statistics, the experts noted.<\/p>\n<p>In some countries, crypto transactions can make up a significant portion of cross-border transfers. They are often difficult to quantify due to existing data gaps.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>\u00abCentral banks need to gain an understanding of the risks and opportunities that cryptocurrencies pose for <span data-descr=\"traditional finance\" class=\"old_tooltip\">TradFi<\/span><\/em>\u00bb, <em>\u2014<\/em> BIS said.<\/p>\n<\/blockquote>\n<p>Access to the platform has been granted to a number of monetary regulators. Their feedback will form the basis for improving Atlas.<\/p>\n<p>Earlier, BIS officials warned that vulnerabilities in the digital asset market could pose risks to financial stability in economies with developing market economies.<\/p>\n<p>The BIS chief Agust\u00edn Carstens has urged governments worldwide to establish a regulatory framework for the adoption of central bank digital currencies.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Bank for International Settlements (BIS) presented a proof of concept for a dynamic mapping system of the circulation of digital assets.<\/p>\n","protected":false},"author":1,"featured_media":85358,"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":[1430,1269,1224,36],"class_list":["post-85357","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bis","tag-cryptocurrencies","tag-macroeconomics","tag-regulation"],"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\/85357","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=85357"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85357\/revisions"}],"predecessor-version":[{"id":85359,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/85357\/revisions\/85359"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/85358"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=85357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=85357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=85357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}