BIS head warns on CBDC problems, positive on crypto
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Cecilia Skingsley, the new head of the Bank of International Settlements (BIS), decried the lack of interconnectedness that will come with the proliferation of central bank digital currencies (CBDCs). Skingsley believes that CBDCs are a good gateway for seamless transactions, but they would face geographical limitations because not all countries are ready to cooperate with others. Recall that CBDCs became a chosen adventure of apex banks due to the global fall in physical cash and the need for centralized authorities to maintain their money-printing powers in the face of a potential ‘threat’ like bitcoin. While 11 countries have officially created