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Central banks told to think twice before boarding Bitcoin bandwagon

Reuters  |  LONDON 

By Huw JonesLONDON (Reuters) - Central banks should think hard about potential risks and spillovers before issuing their own cryptocurrency, the Bank for International Settlements (BIS) said in a report on Monday.The report by two committees at the BIS, a forum whose members include the U.S. Federal Reserve and European Central Bank, is wary of central banks issuing their own central bank digital currency, or CBDC."There are risks we do not fully understand at this point," said Jacqueline Loh, chair of the BIS markets committee."Any step towards a possible launch of a CBDC should be subject ...

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First Published: Tue, March 13 2018. 01:35 IST
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