How many central banks are actually considering their own version of cryptocurrency is unclear, Russia and Venezuela being the most infamous examples. To perhaps ward off serious consideration from more established economies, the Bank for International Settlements (BIS), the world’s central bank to central bankers, is suggesting state-backed crypto might destabilize commercial banks’ customer deposits, negatively impacting the “efficiency of financial intermediation.”
Also read: Québec Premier: We’re Not Really Interested in Bitcoin Mining
Central Banks Warned About State-Backed Crypto
Chairs of two BIS working groups, Klaus Löber (European Central Bank) and Aerdt Houben (Netherlands
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