COST Provident Digital Interface

BIS puts CBDCs at centre of future monetary system

Reading now: 133

The report decries the structural limitations of crypto and decentralised finance (DeFi), outlining the inherent risks in their design.

The BIS notes that recent market turmoil and the collapse in the prices of major stablecoins are reminders that "crypto is not sound money".Rather, a digital version of money issued by the central bank could provide for many of the same features offered by cryptocurrencies and stablecoins while building on a strong foundation of trust.

The website is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News