Bank for International Settlements (BIS)
The Bank for International Settlements (BIS) is an international financial institution that was established in 1930 to facilitate global monetary and financial stability. It serves as a bank for central banks, providing them with services such as banking, payments, clearing and settlement systems, asset management and liquidity provisioning. The BIS also provides research into the effects of changes in national policies on international markets. Additionally it hosts meetings between central bankers from around the world to discuss issues relating to currency values and economic policy coordination.
In terms of cryptocurrency regulation, the BIS has issued reports highlighting both benefits associated with digital currencies as well as potential risks posed by cryptocurrencies to governments’ anti-money laundering efforts or possible macroeconomic factors if they become widely adopted globally. In July 2019 it released new guidance designed at helping countries develop regulations which would support innovation while protecting against money laundering activities related to virtual assets like Bitcoin or Ethereum amongst other cryptocurrencies. This report acknowledged that decentralized digital currencies could offer advantages over traditional payment networks but warned about their lack of oversight compared with government fiat money systems .
