While US regulators appear to prefer a “balanced” approach to controlling the cyrptocurency space, and Fed officials “are not worried about Bitcoin,” it appears the new head of the so-called “central-banks’ central-bank” is most definitely concerned.

Bloomberg reports that in his first major public speech as head of the Bank for International Settlements, Agustin Carstens argued that central banks — along with finance ministries, tax offices and financial market regulators — should police the “digital frontier.” He said they must ensure a level playing field and functioning payment systems, and safeguard the “real value” of money.

“Bitcoin is not functional as a means of payment, but it relies on the oxygen provided by the connection to standard means of payments and trading apps that link users to conventional bank accounts,” Carstens said in Frankfurt on Tuesday.

“If the only ‘business case’ is use for illicit or illegal transactions, central banks cannot allow such…

Continue reading…

Trending stories from over 100 sources, YouTube and Twitter
Our archive contains 94,805 news items. 1,159 articles added this week.