Agustin Carstens: Banks Should Not Issue Digital Currencies

Agustin Carstens: Banks Should Not Issue Digital CurrenciesShould banks design their own cryptocurrencies? According to Agustin Carstens, general manager of the Bank for International Settlements, the answer is a definitive “no.” Crypto Isn’t Cool? Carstens has never been a fan of crypto, having likening bitcoin to a “bubble,” a “Ponzi scheme” and an “environmental disaster” in the past. At a speech in Dublin, Carstens explained his fear of cryptocurrencies further, saying that they undermine the global banking system. He is now warning banks of the dangers of creating their own digital currencies. Virtual coins, he claims, go against everything banks stand for. They decrease financial stability and
The post Agustin Carstens: Banks Should Not Issue Digital Currencies appeared first on CCN

Should banks design their own cryptocurrencies? According to Agustin Carstens, general manager of the Bank for International Settlements, the answer is a definitive “no.” Crypto Isn’t Cool? Carstens has never been a fan of crypto, having likening bitcoin to a “bubble,” a “Ponzi scheme” and an “environmental disaster” in the past. At a speech in Dublin, Carstens explained his fear of cryptocurrencies further, saying that they undermine the global banking system. He is now warning banks of the dangers of creating their own digital currencies. Virtual coins, he claims, go against everything banks stand for. They decrease financial stability and

The post Agustin Carstens: Banks Should Not Issue Digital Currencies appeared first on CCN

https://www.ccn.com/feed/