The Bank for International Settlements is developing a stablecoin monitoring system to ensure that issuers maintain sufficient reserve assets

ChainCatcher news, CoinDesk reports that the Bank for International Settlements (BIS) is developing a stablecoin monitoring system to ensure that issuers maintain sufficient reserve assets. The BIS announced its 2023 work plan on Tuesday, stating that the initiative, named Project Pyxtrial, will utilize research on technological tools to help regulators form a data-driven policy framework.

The initiative will launch this year at the BIS's innovation center in London. The BIS is also committed to developing a monitoring system for cryptocurrencies and DeFi through Project Atlas. (Source link)