Kiffmeister’s #Fintech Daily Digest (01/12/2022)

Crypto Prices Move More in Sync With Stocks, Posing New Risks

An IMF blog post reports that amid greater adoption, the correlation of crypto-assets with traditional holdings like stocks has increased significantly, which limits their perceived risk diversification benefits and raises the risk of contagion across financial markets, according to new IMF research. [Read more]

Iran Is Creating Its Own Digital Currency

The Central Bank of Iran (CBI) will reportedly launch a central bank digital currency (CBDC) pilot after the Nowruz (Iranian New Year) holidays in March. CBI’s fintech subsidiary, Informatics Services Corporation, has developed the digital rial platform over the past two years and the CBI has prepared the infrastructure. [Read more] Another report said the CBDC will be launched after approval by the CBI’s Money and Credit Council, although “regulations to this effect have been finalized and approved by the CBI board of executives. [Read more]

Hong Kong Monetary Authority Issues Discussion Paper on Crypto Assets and Stablecoins

The Hong Kong Monetary Authority (HKMA) released a Discussion Paper that lays out its thinking on the regulatory approach for crypto assets, particularly payment-related stablecoins. Members of the public and the industry are welcome to submit their responses before March 31, 2022. [Read more]

To get these updates sent to your inbox, please sign up here. Also, for those interested in intra-day updates and news that didn’t make the Daily Digest cut, please check out my Diigo fintech bookmarks:

Central Bank Digital Currency Workshop, hosted by the CBDC Think Tank 

The Central Bank Digital Currency Think Tank (CBDCTT)  is hosting an in-person CBDC Workshop in Washington DC on February 24. It’s an intensive and hands-on CBDC course for central bank leadership and staff that are looking to understand and position for CBDCs. The workshop is a mix of lectures from CBDC experts and hands-on exercises. Certification of completion will be provided by the CBDCTT. Note that it is open only to central bank staff and finance ministries! [Register here]