ChainReg 19: Digital Dollar, Digital Euro on the Move; Crypto Crackdowns expanding
Meanwhile, policymakers take turns labeling crypto as gambling, a commodity, and a tax asset.
Welcome to ChainReg 19, the podcast that makes it easy to stay on top of digital currency policy trends. From crypto and stablecoins to CBDCs and NBFIs, our automated measurement process illuminates policy signals hiding in plain sight. Every Friday afternoon, we highlight some of the more interesting developments so you can start next week powered by next-generation data.
The G7 ministerial communique last weekend set the tone for the week. Finance ministers and central bank governors made clear their intention to pick up the pace concerning central bank digital currency issuance.
Indeed, policymakers in Europe and the United States made major strides towards a digital euro and a digital U.S. dollar.
Most media outlets missed the signals. In addition, all developed economy policymakers then spent the week legislating while simultaneously intensifying their efforts to extend the regulatory perimeter to the crypto context (the "crypto crackdown”).
In fact, so many policymakers in Europe, Asia, and the United States were so active that making the map below legible required us to create single large geographic delimiters rather than using individual markers for each instance of activity.
NOTE: Since international organizations like the Bank for International Settlements and the International Monetary Fund are not sovereign entities, and since their activity would skew the national map, all activity regarding these and other similar entities are depicted in the non-sovereign southern landmass of Antarctica just to the west of Chile.
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