Central Banks Warned Against Issuing Cryptocurrencies

Law360, London (March 13, 2018, 12:52 PM GMT) -- Allowing central banks to distribute their own digital currencies could create serious new risks for financial markets and destabilize traditional lenders, a comprehensive report from a banking standards setter has warned.

The study, published on Monday by the Bank for International Settlements, which is considered by some to be the central banks of central banks, said that digital tokens could one day be issued by policymakers to help with clearing and settling payments. But the Basel-based body, known as BIS, also warned that financial systems could...
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