BIS warns of virtual currency risks

CBDCs could have an impact on global financial stability, and large demand could force central banks into risky assets, new report says

Going digital: BIS says central banks could be pressed to manage public flight in times of panic

Central banks deliberating the issue of their own digital currencies, in light of the popularity of virtual coins, must carefully consider the potential impact on global financial stability, warns the Bank for International Settlements in a March 12 report.

The new report by the BIS’s Committee on Payments and Market Infrastructures (CPMI) and the Markets Committee comes as the Group of 20 central bank governors and finance ministers are scheduled to meet in Argentina on March 19-20.


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