Crypto Insights — a digital assets newsletter

Key developments as of December 2024:

Regulatory space

• G20 crypto-asset policy implementation roadmap: progress and challenges

• BIS: Project mBridge reaches viable product stage and handed over to central banks 

• IMF: CBDC data use and privacy protection 

• IMF: Cyber resilience of the CBDC ecosystem 

• Qatar launched the QFC Digital Assets Framework 

• Abu Dhabi: Consultation paper on issuance of fiat referenced tokens 

• Private sector partners join Project Agora

• BCAP: New rule restricting broadcast ads for qualifying crypto-assets 

• HKMA commences phase 2 of e-HKD pilot program and expands Project e-HKD to explore new forms of digital money 

• Brazilian Central Bank announces projects selected for phase 2 of Drex pilot testing

• UAE exempts crypto transactions from value added tax

• UK introduces bill to clarify crypto's legal status

• FCA reports increase in crypto ownership and outlines regulatory plans 

• BIS releases working paper on decentralized dealers 

• FSB report highlights financial stability implications of tokenization

Markets

• Goldman Sachs plans to spin out its digital assets platform 

• UBS Asset Management launches tokenized money market fund

• BlackRock highlights bitcoin’s unique qualities as approved IBIT options may solidify Its risk-off status 

• Australia's RBA to prioritize wholesale CBDC work over retail 

• SWIFT to trial live digital currency transactions next year 

• PayPal to allow cryptocurrency buying, holding and selling for US merchants 

• India tops Chainalysis’ Global Crypto Adoption Index for second consecutive year

• Paxos launches Global Dollar (USDG) to boost stablecoin adoption

• OKX partners with Standard Chartered for institutional crypto custody

• Coinbase expands business payment options with PayPal USD stablecoin

Decentralized Finance

• JPMorgan to launch instant FX settlement with Kinexys

• UK Finance announces success of Regulated Liability Network experimentation phase 

• ANZ to launch Chainlink private transactions protocol to enhance RWA 

• Archax and Ripple collaborate to tokenize abrdn money market fund on XRP Ledger

• Bitcoin project BOB outlines blockchain dominance over DeFi 

• Gold enters ‘Digital Gold’ realm as bitcoin introduces tokenized version of the metal