Global central banks plan to stamp their authority on the monetary system, identifying the “structural flaws” in crypto while at the same time moving to adopt its innovative capabilities via the rollout of central bank digital currencies.
The Bank of International Settlements sounded an alarm on the many and growing dangers of crypto and indicated the market meltdown would embolden regulators to crack down, while also ensuring central bank-issued money – albeit in new digital forms – continues to anchor the financial system.
Loading...
James Eyers writes on banking, payments and fintech. He is a former legal and investment banking editor at the AFR, has degrees in commerce and law from UNSW, and is co-author of Buy now, pay later: The extraordinary story of Afterpay Connect with James on Twitter. Email James at jeyers@afr.com.au
