Kingpin of global central banks calls for cryptocurrency crackdown

Published time: 6 Feb, 2018 11:35

 

The cryptocurrency bitcoin  is “a combination of a bubble, a Ponzi scheme and an environmental disaster,” according to Agustin Carstens, the head of the Bank for International Settlements (BIS).

 

He called on central banks to clamp down on bitcoin and other cryptocurrencies to stop them “piggybacking” on mainstream institutions and becoming a “threat to financial stability.”

 

Talking at the Goethe University in Germany on Tuesday, Carstens said:  “To date, many judge that, given cryptocurrencies’ small size and limited interconnectedness, concerns about them do not rise to a systemic level.”

 

Read more: https://www.rt.com/business/417991-central-banks-bitcoin-clampdown/

 

 

 

He is the bubble.