National Bank Authority refers to the powers and responsibilities vested in a country’s central bank to oversee and regulate its financial system. This authority extends to monetary policy, financial stability, and, increasingly, the supervision of digital assets and related service providers. It involves issuing licenses, setting operational standards, and enforcing compliance with financial laws. The central bank acts as a guardian of the national financial infrastructure.
Context
The scope of National Bank Authority over digital assets is a subject of ongoing global regulatory development, as central banks determine their role in a rapidly changing financial landscape. Discussions focus on how central banks can effectively manage risks associated with cryptocurrencies while potentially exploring central bank digital currencies. A critical future development involves clarifying the jurisdictional boundaries and supervisory tools available to national bank authorities to ensure financial stability in the digital age.
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