Central bankers who initially discounted Bitcoin and other public crypto assets as fraud, Ponzi schemes or scams, have suddenly changed their stance.
Banks Now Love Crypto, But Only if They Can Control It
Bank of France Governor Francois Villeroy de Galhau is the latest monetary policymaker who has recently commented on cryptocurrency and advocated for the technology to be issued and controlled by central banks.
Villeroy de Galhau acknowledged the utility of crypto assets as digital cash alternatives although he added the disclaimer that they should not be issued by private companies, such as Facebook’s infamous crypto Libra.
Villeroy de Galhau insisted he isn’t responding to Facebook’s currency and instead his comments came as a response to the extremely fast pace of development in blockchain and the need for central banks…
Click to continue reading on its source location…