The chief of the Bank for International Settlements has acknowledged that central banks will likely soon need to issue their own digital currencies.
The Bank for International Settlements has expressed concerns over the expected disruption as big tech firms like Facebook enter the financial space.
BIS chief Agustin Carstens has said that central banks are wary about issuing digital currencies due to the "huge operational consequences."
The Basel Committee on Banking Supervision has warned that the growth of cryptocurrencies poses a number of risks to banks.
The proof-of-work algorithm used by bitcoin and some other cryptos is not viable in the long term, argues a Bank of International Settlements study.
A new report from the Bank of International Settlements (BIS) contends that bitcoin markets are swayed by news events related to regulation.
The head of the Bank of International Settlements briefly became the butt of crypto Twitter trolling last week after issuing new comments on the tech.
Agustín Carstens, general manager of the Bank for International Settlements, made strong comments again on cryptocurrency.
The Bank of International Settlements harshly reviewed the idea of cryptocurrencies, though it was more accepting of the idea of distributed ledgers.
The Bank of International Settlements intends to publish two cryptocurrency-focused chapters of its annual report this weekend.