TechFlow news, October 22 — According to Crowdfund Insider, the Bank for International Settlements (BIS) today released a tokenization research report addressed to the G20. The report指出 that tokenization could have significant implications for the future development of financial systems, central banks' payment functions, monetary policy management, and financial stability.
The report highlights four key issues requiring central bank attention: responding to private-sector tokenization initiatives, assessing trade-offs between different types of settlement assets, establishing robust regulatory and supervisory frameworks, and evaluating potential impacts on monetary policy implementation.
The report, jointly prepared by the BIS and its Committee on Payments and Market Infrastructures (CPMI), focuses on the potential benefits of tokenization in addressing existing frictions within financial markets. It notes that while tokenization may enable faster and lower-cost transactions, it also entails costs and risks that must be carefully weighed, including governance frameworks, legal systems, credit risk, liquidity risk, as well as custody and operational risks.
The BIS stated that tokenized arrangements could alter the functioning and structure of financial markets, with risks manifesting differently than those faced by traditional market infrastructures.
