Head of the BIS Innovation Center: Encryption is difficult for business models and requires quick solutions.

According to Golden Financial News, the director of the new development agency of the International Securities Bureau (BIS) said middle banks should feel the risk of default, as crypto assets were intended to counter traditional business models. Benoît Cœuré believes that the crypto transition has moved quickly to digital currencies and that central banks should follow suit in the area of ​​payments. Coeuré spoke about the entry of crypto assets into the global payments ecosystem, which he said could affect the current banking system. In order to make an impact in the rapidly changing digital world, Coeuré said it is important for central banks to create and deliver their digital offerings. (Daily)