Cefi or defi: substitutes or complements?
Christopher Waller discusses the roles of centralized and decentralized finance, and whether they are substitutes or complementary to each other
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Crypto
Innovation, integration and independence
Innovative, integrated and independent retail payments are crucial components of our monetary system. As payments transition into the digital era, Piero Cipollone discusses taking the Single Euro Payments Area to the next level
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The naked emperor’s new clothes
Bitcoin has failed on the promise to be a global decentralised digital currency. Ulrich Bindseil and Jürgen Schaaf argue that the latest approval of an ETF doesn’t change the fact that Bitcoin is not suitable as means of payment or as an investment
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Responsible innovation in money and payments
Innovations in money and payments continue to be of primary importance. Michelle Bowman caution against solutions that could disrupt and disintermediate the banking system
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Paradise lost?
Crypto has failed to deliver on its promises. Fabio Panetta argues that the public sector should establish a comprehensive regulatory framework that addresses the risks with crypto
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The positive legacy of cryptocurrencies
Crypto-promoters and financial authorities are split on the future of cryptocurrencies. Jon Danielsson argues that the efficiency of the financial system can be improved by adopting the best ideas from crypto
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Crypto dominoes
Cryptoassets promise radical change in how people pay, save and invest. Fabio Panetta considers the bursting crypto bubbles and the destiny of digital finance
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