Payments changes far more important than bitcoin, Carstens says
Work on card and mobile phone payments is of “immense importance” – BIS general manager
Central banks’ work in reforming payment systems is far more important than the emergence of cryptocurrencies such as bitcoin, the general manager of Bank for International Settlements said.
“The use of ‘currencies’ is misleading. Cryptocurrencies, such as bitcoin, ether and tether, do not serve the core functions of money,” Agustín Carstens told an audience in Miami on November 1. “No cryptocurrency is a true unit of account or a payment instrument, and we have seen this year that they are a
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Payments
Sweden should modernise retail payments – Riksbank study
Clearing infrastructure needs update and card settlement warrants reform, researchers say
Central Bank of Ireland launches scam awareness campaign
Investment, loan and phishing fraud remain most common
RBA to run trials on tokenised asset settlement
Bank invites industry proposals on ways of settling transactions using digital money
Central bankers weigh up prospects for Project Nexus
Policy-makers from Asean states, India and EU discuss goals for multilateral cross-border payments link
Bank of Thailand governor plays down case for retail CBDC
Sethaput says Asean countries already have good retail payments infrastructure
CBDCs may need to replace stablecoins – Treasury committee
US advisory body calls for creation of unified ledgers under central bank auspices
Crashing the nth party: how third-party service provider risks compound
Cross-border collaboration may help deal with risks from multiple layers of outsourcing
Three plans for digital payments: India, UK, and BIS
Das, Bailey, and Carstens discuss complementary tech, commercial bank innovation, and common platforms