Regulation· ★★★· neutral·

CPMI maps four central bank roles in a payments system shared with stablecoins

  • —CPMI defines four central bank roles: issuer, operator, overseer and catalyst
  • —Central bank money is called the safest, most liquid settlement asset
  • —Stablecoins, tokenized deposits and programmable platforms are all in scope
  • —Risks cited include new interdependencies and credit, liquidity, operational and cyber exposure
Why it matters: The framework gives regulators a common reference for admitting stablecoins and tokenized deposits into systemically important settlement.
Source: CryptoSlate