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The Bank for International Settlements has published initial results from a research initiative on decentralized finance and cryptoassets, alongside details for the development of a prototype crypto monitoring system known as Atlas.

According to the BIS, this innovative system is designed to provide regulatory authorities with a more comprehensive understanding of how, when, and where cryptoassets are utilized. The project initially focused on international cryptoasset flows, recognizing that while these markets introduce groundbreaking technologies, they often operate with limited transparency, posing potential risks to financial stability.

Recent events, such as the collapses of certain exchanges, stablecoins, and DeFi platforms have opened and highlighted the challenges in assessing and managing such risks.

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Author: Vince Dioquino

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