Central bank digital currency would be unsafe – senior ECB official

benoit-coeure2

Financial technology is still not advanced enough to support a secure central bank-issued digital currency, Benoit Coeuré told a conference in Singapore on June 26.

The underlying distributed ledger technologies “are still immature, costly to maintain and possibly prone to vulnerabilities”, the European Central Bank governing council member said. Central bank-issued digital currencies would also create “possible adverse financial stability implications” that would “call for the greatest caution

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