BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’ 

BIS Chief Touts Benefits of CBDCs, Says Crypto Reveals ‘Poorly Designed and Poorly Supervised Financial Systems’ 

In a Wednesday speech in Basel, Switzerland, Bank for International Settlements (BIS) chief Agustín Carstens argued that central bank digital currencies (CBDCs) will “sit at the core of the future financial system,” bringing innovation and meeting public expectations.
While Challenges Remain, BIS Boss Agustín Carstens Insists CBDCs Will ‘Secure the Future Monetary System’
In February, Agustín Carstens expressed skepticism about stablecoins, a sentiment he has echoed repeatedly regarding public crypto assets. Carstens holds a conviction that central bank digital currencies (CBDCs) will emerge as major innovators in the cryptocurrency domain. During a discussion focused on “securing the future monetary system,” Carstens took the opportunity to share his insights on CBDCs.
Carstens stated in the speech that CBDCs, whether for wholesale or retail use, will need to be secure and seen as such by the public to maintain trust. He acknowledged that cybersecurity and new technolog

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