Page 2 - Raphael Auer News Today : Breaking News, Live Updates & Top Stories | Vimarsana

On March 9, 2022, President Biden issued an executive order on the "responsible development of digital assets." He directed a "whole government"...

Central banks are rushing out privacy-infringing CBDCs to try to compete with crypto, which is outside their control. But while proponents cite numerous advantages, anything a digital dollar can do, crypto can do better.

The Bank for International Settlements (BIS) today announced that Raphael Auer will join the BIS Innovation Hub (BISIH) team as the head of the upcoming Eurosystem Centre, expected to open in the first half of 2022.

<ul> <li><span>Mr Auer is currently a principal economist in the Innovation and the Digital Economy unit of the BIS's Monetary and Economic Department</span></li> <li><span>He has contributed extensively to BIS policy publications and published widely in the field of central bank digital currencies, stablecoins and cryptocurrencies</span></li> <li><span>The BIS Innovation Hub Eurosystem Centre will have locations in both Frankfurt and Paris</span></li> </ul>

This feature analyses decentralised finance (DeFi), a new form of crypto intermediation that uses automated protocols on blockchains and stablecoins to facilitate fund transfers. Even though links with traditional finance are currently contained, DeFi warrants closer monitoring because of high leverage, limited shock-absorbing capacity and built-in interconnectedness.