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BIS gives CBDCs a thumbs up, crypto the middle finger in reports to G20 ministers

Published 07/11/2023, 05:00 PM
Updated 07/11/2023, 06:40 PM
BTC/USD
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In preparation for a meeting of the G20 finance ministers and central bank governors this month, the Bank for International Settlements Innovation Hub (BISIH) submitted two reports — on cryptocurrency and central bank digital currencies (CBDCs) — on July 11. The reports reached very different conclusions about the related technologies.

The BISIH report on crypto is the shorter of the two publications at 24 pages. It provided a short overview of the crypto ecosystem of cryptocurrencies, stablecoins and decentralized finance (DeFi), followed by a laundry list of “[s]tructural flaws and risks.”

Bitcoin price versus crypto exchange usage. Source: The Bank for International Settlements

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Latest comments

surprise they don't like crypto but love cbdc that they can monitor and control and extert leverage over you if you don't fall in line. people will keep swallowing it until they can't stomach it anymore. then they better hop on their private jets and run away as fast as possible
f g20
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