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German Central Bank Chief Pours Cold Water on Digital Currencies

By CCN: Deutsche Bundesbank president Jens Weidmann has added a dampener to discussions on central bank digital currencies (CBDC), claiming they would destabilize financial systems and worsen bank runs. The president of Germany’s central bank said, in a speech in Frankfurt, Germany, that widespread use of digital central bank money could have “serious consequences.” CBDCs have become a popular topic recently. Lithuania’s central bank, Governor Vitas Vasiliauskas recently talked up the viability of CBDCs to the Bank of International Settlements (BIS). The sentiment from the BIS, Vasiliauskas, and Weidmann is that there is merit in digital tokens; however, they condemn

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