BIS Chief on Crypto: A Technology Doesn't Make for Trusted Money

The video discusses the vision for a unified programmable ledger to modernize the financial system by reducing transaction costs and increasing inclusion. It highlights the BIS's focus on stable coins and CBDCs, emphasizing the need for regulation in the crypto space to prevent systemic risks. The G20's role in shaping international financial stability and regulation is also explored.

What is one of the main goals of creating a unified programmable ledger?

• To focus solely on large enterprises

• To eliminate all financial regulations

• To increase transaction costs

• To lay the foundation for a modern financial system

What is a significant challenge in achieving financial inclusion according to the first section?

• Excessive financial inclusion

• High transaction costs

• Lack of technology

• Over-regulation

Why is it important to regulate cryptocurrencies according to the BIS?

• To increase the value of cryptocurrencies

• To ensure consumer protection and safe interaction with traditional systems

• To eliminate the use of fiat money

• To promote the use of unregulated exchanges

What incident is mentioned as influencing central bankers' views on the crypto ecosystem?

• The rise of Bitcoin

• The FTTX incident

• The launch of a new stable coin

• The decline of fiat currencies

What is the role of the Financial Stability Board within the G20?

• To focus on individual country regulations

• To set the main rules for the international financial system

• To promote unregulated financial activities

• To eliminate all forms of cryptocurrency