Reserve Bank of New Zealand is ramping up its monitoring of stablecoins and cryptoassets

The RBNZ says there are significant risks and opportunities from stablecoins and other private money innovations

  • but also significant uncertainties about how the sector will develop and where the optimal balance will lie
  • caution is needed, which also reinforces the need for enhanced data and monitoring to build understanding

Here is the link, and some handy info from the RBNZ piece if you need:

  • What are cryptoassets?
    • A cryptoasset is a digital token that relies on cryptographic methods and non-traditional payment infrastructure to be transacted and stored.
  • What are stablecoins?

    • A stablecoin is a type of cryptoasset that aims to stabilise its value relative to other conventional assets, including central bank money.

This article was written by Eamonn Sheridan at Source