The chairman of the Swiss National Bank (SNB) spoke out on cryptocurrencies yesterday.
Speaking at an event in Basel, Thomas Jordan, who also chairs the international Central Bank Counterfeit Deterrence Group, said that central banks are eyeing the issues of cryptocurrencies "very intensively," adding, "I would look at them more as an investment than a currency."
He further said that central banks must consider the possible effects that cryptocurrencies might have on the financial ecosystem.
These are not the first comments from the central banker on the technology.
Addressing the Sibos conference in Switzerland last year, he described the underpinning blockchain technology as turning finance "on its head."
He revealed at the time that the bank is talking with market participants, regulators and other central banks about the future role of blockchain and distributed ledgers, which promise "first and foremost to reduce cost."
Thomas Jordan image via CoinDesk Archives
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.