What if the feds got in on the cryptocurrency craze?
There’s now one Wall Street chief executive officer who says bitcoin presents a real enough threat to the financial system that governments will have no choice but to issue versions of their own.
“I don’t think governments are going to take lightly other people coming in and potentially disrupting their abilities around data, around tax collection, around money laundering, around know-your-customer,” Citigroup Inc. CEO Michael Corbat said Wednesday in an interview at the Bloomberg Year Ahead summit in New York. “It’s likely that we’re going to see governments introduce, not cryptocurrencies — I think cryptocurrency is a bad moniker for that — but a digital currency.” […]
Read Full: Bitcoin, Beware: Citigroup’s CEO Predicts State-Sponsored Digital Currencies
