Crypto News: The world's central banks need to start thinking seriously about Bitcoin

LONDON - Global central banks must think seriously about their approach to the growing cryptocurrency markets, the Bank of International Settlements (BIS) said.

The BIS - often known as the central banks' central bank - used its quarterly report to discuss cryptocurrencies such as Bitcoin and Ethereum, saying that central banks must consider whether or not to issue their own digital currencies in the near future.

"In less than a decade, bitcoin has gone from being an obscure curiosity to a household name. Its value has risen - with ups and downs - from a few cents per coin to over $4,000. In the meantime, hundreds of other cryptocurrencies - equalling bitcoin in market value - have emerged," the report said.

BIS argues that central banks must look at questions of both privacy and efficiency when assessing digital currencies, as well as the financial stability implications that arise from those currencies.

Full story at http://read.bi/2xhVFA0

Source: Business Insider Nordic

 

 

 

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