While the most visible trend has been the proliferation of the crypto-assets, including so-called ‘stablecoins’, other developments such as the decentralised finance or ‘DeFi’ model have equally profound and potentially more long-lasting impacts.
We as central bankers play a key role in the development of policies and regulations for the stability and soundness of the financial systems in our respective jurisdiction. I encourage more collaborative discussions also in the areas of macro-prudential and general risk-based supervision. Such discussions should translate to some initiatives for future capacity building and implementation of frameworks in our respective jurisdictions.