The head of the Bank of International Settlements (BIS) has warned that central banks must be prepared to act against cryptocurrencies, which he labeled "a bubble, a Ponzi scheme and an environmental disaster".
Agustin Carstens, the general manager of the BIS, said bitcoin raises concerns about consumer and investor protection.
"Appropriate authorities have a duty to educate and protect investors and consumers, and need to be prepared to act," Carstens said during a speech in Frankfurt....MORE
Carstens said digital tokens "masquerading as currencies" must not subvert trust in central banks....
Mr. Carstens failed to use the "But we love blockchain" addendum so he's obviously just an ignorant hater banker's banker.
