2024-07-31 23:55:08
Regulation
Blockchain
Finance

BIS and Bank of England Introduce Project Pyxtrial for Stablecoin Oversight

Project Pyxtrial, a joint initiative by BIS and Bank of England, employs a sophisticated data model and APIs to monitor stablecoin reserves. This monitoring includes a customizable dashboard for data visualization.

The project emphasizes the need for regulatory oversight due to potential inadequacies in self-reported data by stablecoin issuers. While Pyxtrial shows promise for monitoring other digital assets, it requires a thorough understanding of blockchain technology and regulations.

Despite its potential, the project is still in its prototype stage and awaits readiness for a full-fledged launch.

Cointelegraph.com News
31. Juli 2024 um 21:19

BIS, Bank of England unveil Project Pyxtrial for stablecoin monitoring

Cryptocurrencies & blockchain
Finance
Technology
Project Pyxtrial, a BIS and Bank of England proof-of-concept, uses a data model, database, and APIs to monitor stablecoin reserves, with data displayed on a customizable dashboard; self-declared data from issuers may be insufficient, requiring enforcement authority; extensive knowledge of blockchain and regulations needed to operate Pyxtrial, which could monitor other digital assets, but is not entirely ready for launch and the world is not ready for it.
CoinDesk
31. Juli 2024 um 15:25

Stablecoin Balance Sheets Can Be Supervised, BIS and UK Central Bank Project Claims

Finance
Cryptocurrencies & blockchain
Technology
The BIS, the central bank for central banks, and the Bank of England have demonstrated that stablecoin balance sheets can be supervised through Project Pyxtrial, a prototype data analytics pipeline for near real-time monitoring.
CW

Account

Waiting list for the personalized area


Welcome!

InfoBud.news

infobud.news is an AI-driven news aggregator that simplifies global news, offering customizable feeds in all languages for tailored insights into tech, finance, politics, and more. It provides precise, relevant news updates, overcoming conventional search tool limitations. Due to the diversity of news sources, it provides precise and relevant news updates, focusing entirely on the facts without influencing opinion. Read moreExpand

Your World, Tailored News: Navigate The News Jungle With AI-Powered Precision!