Bank of International Settlements ( BIS) head Augustine Carstenscentral banks to protect consumers stated that the infrastructures should be developed.
Global company Bank of International Settlements ( BIS) head Augustine Carstensreferred to the turmoil in the cryptocurrency market. Carstens, of BIS stated that he lost hope that the future of stable money would be cryptocurrencies. However, the president did not introduce central bank digital currencies ( CBDC) and tokenized deposits in the financial sector see it as an innovation.
BIS Chairman Agustin Carstens Addresses Central Banks and CBDCs
Bank of International Settlements ( BIS) head Augustine Carstensaddressed the turmoil in the crypto industry and the central bank.
Head of financial institution Carstens, Singapore Monetary Authority He gave a speech in In this talk, central bank digital currencies ( CBDC), available currency formats mentioned that it can change technologically.He also stated that central banks must continually improve their infrastructure to protect consumers.
Also approaching stablecoins Carstenson the reliability of stablecoins as a form of money, addressing the major problems experienced over the past year. He said it raises serious doubts.
In the middle of all these processes Carstensbelieves that technological developments and innovations in the crypto sector will form the basis of the financial future.
It also made reference to the central banks on the subject. Carstens, said:
“It is the job of central banks to ensure that they contribute to the development of an infrastructure that meets these demands: If central banks do not innovate, others will step in.”
