Embracing BIS Governance: Survival Rules for Market Entities in the Digital Finance Era

Author: Zhang FengKey PointsAIThe reshaping of the global financial system by tokenization is an inevitable trend. The efficiency revolution it brings coexists with risks and challenges, driving the global financial governance system towards a more collaborative, intelligent, and inclusive direction. With its supranational coordinating position, mature rule-making experience, cutting-edge research capabilities, and extensive international cooperation network, BIS has become the core leader and key supporter of this financial governance reform. Against the backdrop of profound changes in the global financial system, central banks and regulatory agencies around the world should further strengthen cooperation with the BIS to jointly improve the global governance framework for AI and tokenization. Financial institutions, non-financial enterprises, and investors should proactively integrate into the BIS-led global financial governance system, taking compliance as the bottom line, innovation as the driving force, and risk prevention as the core, to jointly promote the healthy development of AI and tokenization technologies, strengthen the defenses of global financial stability, and build an efficient, stable, and resilient global financial system. The deep integration of artificial intelligence (AI) and tokenization technology is fundamentally reshaping the operating model of the global financial system, driving an efficiency revolution in financial transactions, asset pricing, and capital flows. However, it also brings systemic risks and challenges across markets and jurisdictions. The geographical segmentation of traditional financial governance frameworks and the global reach of technological innovation create a stark contradiction, significantly increasing the difficulty of maintaining financial stability. The Bank for International Settlements (BIS), as a global platform for cooperation among central banks, leverages its supranational coordination capabilities, mature regulatory rule-making experience, and cutting-edge financial research system to become a key player in addressing the challenges of AI and tokenization and strengthening the defenses of global financial stability. It can be said that, in balancing technological innovation and risk control, clarifying the multiple impacts of AI and tokenization on the financial system, leveraging the core supporting role of the BIS, and promoting the effective connection between various market entities and the BIS governance system have become core issues in the upgrading of the global financial governance system. I. AI and Tokenization Reconstruct the Underlying Logic of Financial Operations, Ushering in a New Era of Efficiency RevolutionAIThe intelligent decision-making capabilities of AI complement the value transfer advantages of tokenization,