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BIS Blueprint for the Future Money System
Bank Of International Settlements
Power With-In
July 25, 2023
A Plan to Improve the Money System: Making the Old Better and the New Easier
Tokenizing money and assets has potential, but previous attempts were done separately without access to central bank money and trust. To fully benefit, a unified ledger could combine central bank money, tokenized deposits, and assets on a programmable platform, making transactions easier and enabling currently difficult arrangements. This would expand economic outcomes. Multiple purpose-specific ledgers connected through APIs would ensure compatibility, promote inclusion, and create fairness.
BlackRock ETF will be ‘big rubber yes stamp’ for Bitcoin
BlackRock, a big investment company, can put a lot of money into the market. Last year, many institutions were unsure about getting into the crypto market because of unclear rules. But now, the Bitcoin ETF is likely to be approved, which will show that cryptocurrency is supported. ETFs also make it easier for institutions to include Bitcoin in their portfolios, so they don't have to worry about keeping it safe or understanding it. This is a big deal, like when the gold ETF started in 2004 and gold prices went up a lot. Overall, the Bitcoin ETF is an important step towards making Bitcoin a valuable asset that is accepted by regulators. This is a really big deal.
Ripple applies for crypto license in the United Kingdom
The Ripple payment protocol has applied to be registered as a cryptocurrency asset firm with the Financial Conduct Authority (FCA) in the UK. They are also trying to get a payments license in Ireland, as they have made significant investments in that area.
