'Cen­tral banks can't ig­nore Bit­coins'

India Business Journal - - GLOBAL WRAP-UP -

The world's cen­tral banks can't ig­nore the growth in cryp­tocur­ren­cies and may at some point have to con­sider whether it makes sense for them to is­sue their own dig­i­tal cur­ren­cies, ac­cord­ing to the Bank for In­ter­na­tional Set­tle­ments (BIS). "Whether or not a cen­tral bank should pro­vide a dig­i­tal al­ter­na­tive to cash is most press­ing in coun­tries, such as Swe­den, where cash usage is rapidly de­clin­ing. But all cen­tral banks may even­tu­ally have to de­cide whether is­su­ing Bit­coins or cryp­tocur­ren­cies makes sense in their own con­text," the BIS has said.

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