ECB Signals New Framework for Cross-Border Settlement
Internal consultation documents suggest a shift toward atomic settlement for wholesale banking, with tokenised deposits at the centre of the design.
Julian Thorne
Senior Policy Editor
Brussels, Belgium · Writing for MyBunnyFarm since 2020
Julian Thorne leads MyBunnyFarm's coverage of financial regulation, central bank digital currency programmes and cross-border enforcement. He has covered European financial rulemaking for eleven years, including the full passage of MiCA, and reads consultation papers so readers do not have to.
- Beat
- Regulation, central banks and enforcement
- Areas of expertise
- MiCA · CBDC design · Anti-money-laundering rules · Market structure regulation
Reports by Julian Thorne (7)
Hong Kong SFC Approves Three New Virtual Asset Platforms
The approvals extend the territory's licensing regime to a wider set of custody and trading operators.
Stablecoin Issuers Face Tighter Reserve Disclosure Standards
Auditors are pushing for monthly attestations with instrument-level detail rather than aggregate summaries.
First Cross-Border MiCA Passporting Dispute Reaches a National Regulator
A firm licensed in one member state has had its services restricted in another, testing the regime's central promise.
Travel Rule Compliance Still Breaks at the Border, Survey Finds
Originator data is being collected. Getting it to arrive intact at a counterparty in another jurisdiction remains the failure point.
If Regulators Are Going to Model Systemic Risk, They Should Publish the Model
Supervisors are making consequential claims about contagion channels on the basis of work nobody outside the building can check.
State Trust Charters for Crypto Custody Face a Federal Challenge
Banking groups argue the charters grant national reach without national supervision. Custodians say the model has worked for a decade.