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Central Banks and Digital Money: Crypto Going Mainstream?

A survey report last week from the Bank for International Settlements (BIS), the so-called central bank of central banks, makes for interesting reading. While it is not an approval of cryptocurrency by any means, it does suggest that some forms of digital currency are gaining credence among regulators. Some 66 central banks, representing 90% of the world’s economic output, took part in the survey in 2019.

It’s a long road to hoe, but my colleague Tom Lee maintains that cryptocurrencies suffer a lack of interest from institutions in particular, who are cautious about a (for the most part) unregulated asset class. Ironically more regulation will bring more interest and that could propel cryptocurrencies.

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