Should central banks issue cryptocurrencies?

LONDON: It is too soon to determine whether central banks should issue their own cryptocurrencies, the Bank for International Settlements (BIS) said on Sunday, as the risks could not yet be fully assessed and the technology underpinning them is still unproven.

Central banks already use electronic money – only a very small proportion of their assets are now backed by gold – but this is exchanged in a centralised fashion, across accounts at the central bank.