The Bank for International Settlements (BIS) and the European Central Bank said that Bitcoin “does not facilitate the cashless economy” in a statement released on March 13.
Benoît Cœuré and Jacqueline Loh in the BIS report, central bank digital They added that currencies (CBDC) should increase remittance options with banks. Mr.Benoît Cœuré is chairman of the Board of the ECB and the Bank for International Settlements (BIS) Committee on Payments and Market Infrastructures (CPMI). Jacqueline Loh is the chair of the BIS Markets Committee.
“Bitcoin is a challenge.”
It is claimed that Bitcoin is a “challenge” to be met by increasing consumer offers in the remittance market. is being done. Benoît Cœuré and Jacqueline Loh attribute these claims to:
Despite its many flaws, Bitcoin highlights an old failure of our current system: cross-border retail payments. However, these payment channels are often very slow, less transparent and inexpensive. Improvements to this issue are the best way to challenge the Bitcoin threat.
European Central Bank comments Bitcoin as “the social focal point of the future”
BIS report is on the agenda Cryptocurrency regulations and Benoît Cœuré and Jacqueline Loh’s comments indicate that in the foreseeable future, Bitcoin will become a focal point for the international community. (ECB) is far from being a priority. Daniele Nouy, chair of the ECB Supervisory Board in February, said, “We are investigating the issue from a regulatory perspective, we will do something if necessary, but it is not high on our to-do list at the moment.” said.