The Bank for International Settlements (BIS) has launched Project Atlas, a proof of concept aimed at exploring the economic impact of crypto assets and decentralized finance. The project is a combined effort of the BIS Innovation Hub Eurosystem Centre, De Nederlandsche Bank, and the Deutsche Bundesbank. It seeks to streamline the data collection process from various crypto exchanges and public blockchains, and to assess findings against macroeconomic analysis.Project Atlas is part of a broader trend of central banks and financial institutions taking steps to better understand and regulate the rapidly growing crypto industry. The BIS has previously emphasized the necessity of legal clarity in central bank digital currency (CBDC) development.Project Atlas is an important stride toward gaining a deeper understanding of the crypto industry and reflects the continuous development of CBDCs and an ongoing discourse in the crypto community about the potential and pitfalls of DeFi. It is the latest in a series of efforts by the BIS and other global financial institutions in understanding and potentially regulating the technology.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Europe |
| Countries | |
| Sentiment | neutral |
| Relevance Score | 8 |
| People | Agustín Carstens, Deutsche Bundesbank, De Nederlandsche Bank |
| Companies | Bank for International Settlements, BIS Innovation Hub Eurosystem Centre, Central Banks within the Eurosystem, Deutsche Bundesbank, De Nederlandsche Bank |
| Currencies | dutch guilder, US Dollar, Ethereum, Bitcoin, Euro |
| Securities | None |
