Global Central Banks Can't Ignore the Bitcoin Boom, BIS Says
- Report looks at central banks issuing cryptocurrencies
- Says institutions would need to examine benefits and risks
Bitcoin Falls as Chinese Exchange Cracks Down
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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.
“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,” the BIS said in its quarterly review. “But all central banks may eventually have to decide whether issuing retail or wholesale CBCCs makes sense in their own context.”