BIS Says Tokenised Deposits Should Carry Everyday Payments

The figures reveal a sharply concentrated distribution of realised gains, but their larger significance is a change in tax visibility. HMRC is moving from a new self-reported crypto box towards third-party provider data under the Cryptoasset Reporting Framework.

The transaction moves Swift’s project from a published design and readiness announcement into reported live use. The more important architectural point is that the shared ledger coordinates tokenised bank money across institutions while retaining established compliance, credit and settlement controls.

The cancellation delays the point at which issuers, investors and the public might see proposed text and respond to it. It does not establish that the idea has been abandoned, adopted or connected to a separate legislative delay.

The pivot shows where infrastructure operators now see stronger margins—and what they are willing to leave behind.

The call reframes LINK as financial infrastructure—but depends on adoption, fees and reliability scaling together.