Tag: Bank of International Settlements
In the near future, central banks will need to introduce some sort of alternative system in order to preserve economic authority as many conventional currencies begin to lose public confidence due to inflation. Towards this end, the BIS is set to allow member banks to hold 1% of their reserves in Bitcoin.
Is crypto fragmentation really an issue for central banks and the BIS to rectify? No. It is completely beyond their jurisdiction, yet they have opted to make it their business. Now, BIS calling for the centralization of cryptocurrencies.