Kiffmeister’s #Fintech Daily Digest (02/17/2022)*

I have made some minor tweaks to my tabulation of retail central bank digital currency (CBDC) projects:

FSB on harnessing the benefits of digitalization while containing its risks

The Financial Stability Board (FSB) published its 2022 policy plans to promote global financial resilience, including on safely harnessing the benefits of digitalization:

In October, the FSB, in coordination with the Committee on Payments and Market Infrastructures (CPMI) and other standard-setting bodies, will deliver a progress report on the G20 Cross-Border Payments Roadmap, and will also report on the implementation approach for monitoring progress towards the Roadmap’s quantitative targets. Following up on its updated assessment of the risks to financial stability posed by crypto-assets, the FSB will publish in October a consultative report on the review of its high-level recommendations for the regulation, supervision and oversight of “global stablecoin” arrangements, and how any gaps identified could be addressed by existing frameworks. The FSB will also build on its earlier work on third-party risk management and outsourcing and publish in October best practices for regulatory cyber incident reporting requirements. [Read more]

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

The CBDC Think Tank (CBDCTT)  is hosting an in-person CBDC Workshop in Washington DC on February 24 exclusively for central bank and finance ministry staff looking to understand and position for CBDC issuance.  [Register here]

Also, in Q2 2022, the CBDCTT will launch the OpenCBDC Sandbox for evaluating, studying and learning from the OpenCBDC Boston Fed and the MIT Digital Currency Institute open source CBDC platform. It will provide easy to use access, with the CBDCTT providing training and all updates. It’s available exclusively to central banks and official institutions. [Read more]