Cryptocurrencies
Bitcoin ‘Might Break Down Altogether,’ BIS Head Carstens Warns
- Central banks should be first to issue digital money: BIS
- Stablecoins raise governance issues, BIS general manager says
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Bitcoin is inherently risky and only central banks should issue digital currencies, according to the Bank for International Settlements.
“Investors must be cognizant that Bitcoin may well break down altogether,” because the system becomes vulnerable to majority attacks as it gets close to its maximum supply of 21 million coins, BIS General Manager Agustin Carstens said in a speech for the Hoover Institution on Wednesday.