cryptonews: The events of 2022 have shown that crypto cannot replace sovereign, central bank-issued currency. 🏦
The events of 2022 have shown that crypto cannot replace sovereign, central bank-issued currency.
Carstens was interviewed at the Singapore FinTech Festival, where he delivered a speech on Wednesday arguing that the events of the past year have "cast serious doubts on the ability of stablecoins to function as money." Crypto enthusiasts would argue that it's hardly been a successful few years for central banks though, with the likes of the Federal Reserve and the Bank of England engaging in rampant money printing during the coronavirus pandemic. This led to sky-high levels of inflation in major economies that have proven difficult to bring under control.
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