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Cryptocurrencies: 26901
Markets: 106767
Market Cap: $3,743,426,752,261     
24h Vol: $129,864,322,227
Bitcoin.com 2023-02-22 17:30:52

BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning

BIS General Manager Casts Doubt on Stablecoins, Claiming Tokens Do Not Benefit From Regulations or Central Planning
According to Agustin Carstens, the head of the Bank for International Settlements (BIS), cryptocurrencies have lost the “battle” against fiat currencies issued by the world’s central banks. While speaking at the Monetary Authority of Singapore on Wednesday, Carstens stressed that stablecoins are not reliable because they lack the “institutional arrangements and social conventions behind them.”
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