A new joint European bank statement has poured cold water on kryptowaluty
A report by two groups, the Bank for International Settlements (BIS) and the European Central Bank (ECB) warns of the adverse effect of introducing CBDCA .
Also advocates that banks and other authorities should continue to monitor digital currencies such as Bitcoin .
” Any steps to start CBDCA they should be subject to careful and in-depth analysis. Further research is needed regarding the possible impact on interest rates, the structure of intermediation, financial stability and financial supervision, the impact of changes in foreign exchange rates and other asset prices remains largely unknown, so this new phenomenon should be further investigated ”
In separate comments to the findings of the report, the heads of the ECB and BIS Benoît COEUR and Jacqueline Loh they said that the decentralized digital currency, in particular Bitcoin . ” it is not a response to a cashless economy ”
Russia, Venezuela, Marshall Islands, Cambodia, Turkey and Iran are going in the opposite direction and want to adopt this new technology.