BIS Chief Slams Bitcoin As Ponzi Scheme and Threat to Central Banks
The head of the Bank for International Settlements has blasted bitcoin as "a bubble," "a Ponzi scheme" and an "environmental disaster."
The chief of the Bank for International Settlements has acknowledged that central banks will likely soon need to issue their own digital currencies.
BIS chief Agustin Carstens has said that central banks are wary about issuing digital currencies due to the "huge operational consequences."
CBDCs continue to draw attention from central bankers, but panelists at an IMF event – including the Federal Reserve – do not expect to see their nations launch one soon.
Agustín Carstens, general manager of the Bank for International Settlements, made strong comments again on cryptocurrency.
Noted economist Nouriel Roubini resumed his criticism of cryptocurrencies on Twitter Tuesday, calling the tech's enthusiasts "crypto-crazies."