The latest London South East Webinar takes place on July 6. Come and hear CEO’s from Orosur Mining, Caledonia Mining, Glantus Holdings and Tekcapital speak. Please register here

Less Ads, More Data, More Tools Register for FREE

BIS official casts doubt on El Salvador bitcoin 'experiment'

Fri, 11th Jun 2021 10:18

LONDON, June 11 (Reuters) - El Salvador's decision to make
bitcoin legal tender is an "interesting experiment" with a
speculative asset that does not pass the test of being a means
of payment, a senior global central banking official said on
Friday.

"El Salvador, that is an interesting experiment indeed,"
said Benoit Coeure, head of the innovation hub at the Bank for
International Settlements.

"We have been clear at the BIS that we don't see bitcoin as
having passed the test of being a means of payments. Bitcoin is
a speculative asset and should be regulated at such," Coeure
said at the launch of a regulatory research hub with the Bank of
England.
(Reporting by David Milliken and Huw Jones)

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.