News, data and analysis on tokenized assets, market design and digital economic systems.
Prudential treatment and systemic risk: the standard setters, the stress episodes, and what supervisors concluded from them.
The Bank for International Settlements published the money and payments chapter of its 2026 Annual Economic Report on 23 June 2026, arguing that stablecoins fall short on singleness, elasticity and integrity of money.
On 22 June 2026 the Bank of England published a policy statement and draft Code of Practice for sterling systemic stablecoin issuers, dropping proposed individual holding limits in favour of a temporary £40bn cap per issuance.
The IMF Executive Board concluded its 2026 Article IV consultation with Nigeria on 9 June 2026 and identified stablecoin oversight as a priority.
The European Central Bank published a study of the tokenised bond market in Issue 33 of its Macroprudential Bulletin on 13 April 2026, comparing matched samples of tokenised and conventional European corporate bonds.
An IMF working paper published on 27 March 2026 examined cross-border stablecoin flows and their effects on emerging-market foreign exchange rates.
What issued, what settled, what the supervisors changed, with the numbers behind it and a note on what the numbers do not show. One email, Thursday mornings.
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