The Central Bank can release their cryptocurrencies earlier than expected

The head of the Bank for International Settlements (BIS) Agustin Carstens (Agustin Carstens), said that some central banks may issue their own cryptocurrency earlier than expected.

Carstens emphasized that BIS supports the efforts of global central banks to research and develop cryptocurrencies based on national fiat currencies. He said that a large number of central banks are working on the release of their own cryptocurrency.

“It can happen earlier than we expected. There is a market, and we need to provide digital currencies from central banks, ”said Carstens.

Note that, according to a recently published BIS report, the stable Libra, developed by Facebook, carries new risks for banks. And while the desire of large technology companies to finance can lead to increased efficiency and increased access to financial services, regulators should intensify their actions to reduce the new risks associated with this.

Interestingly, in March of this year, Carstens made a statement that banks should not issue their own digital currencies. It seems that the news about the development of stabelcoin Libra forced him to change his views.