Agustín Carstens, who was also governor of Banco de México, said during the interview that “only the legal and historical infrastructure behind central banks provides great credibility” and also advocated a firm declaration by the G-20 to regulate the sector of digital assets globally.
Fiduciary money, however, has a future where, in combination with private initiative and blockchain technologies, they can make the leap towards successful digitization, where central banks will be the ones that sustain trust in CBDCs (digital currencies issued by central banks).
Top U.S. banking regulators have issued a new warning to banks to be on their guard against any cryptocurrency-related customer liquidity risk, warning that some of their deposits could prove volatile.
In a joint statement issued on Thursday, the Federal Reserve, the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency noted that banks must have robust tools in place to monitor funds placed by entities related to crypto assets.
The agencies noted that deposits placed in banks for the benefit of crypto consumers, as well as stablecoin reserves, could be subject to rapid outflows.
With information from Reuters