“There is a ‘strong case’ for authorities to rein in digital currencies because of their links to the established financial system, Bank for International Settlements General Manager Agustin Carstens said.

‘If authorities do not act pre-emptively, cryptocurrencies could become more interconnected with the main financial system and become a threat .. Most importantly, the meteoric rise of cryptocurrencies should not make us forget the important role central banks play as stewards of public trust. Private digital tokens masquerading as currencies must not subvert this trust.'”

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