The government official who called Bitcoin a “devil’s brat” will be responsible for trends in the cryptocurrency market in Europe
According to the press release, Cœuré will study “critical trends in the technology industry affecting central banks”.
Benoît Cœuré himself, whose term of office on the ECB Board expires on 31 December, has declared his readiness to share his experience “in times of rapid technological change”.
“I’m very happy to join the BMR. We must make the best use of innovations to support financial stability and expand access to financial services,” he said
The Innovation Hub at the Bank for International Settlements was established in June to establish cooperation between the world’s central banks on innovative financial technologies. In particular, it explores central bank digital currencies, stableblocks and other payment best practices.
Recall that in March 2018, Benoît Cœuré saw in the growing popularity of Bitcoin the evidence that the traditional banking system was unable to provide working solutions for international transfers.
However, as early as November of the same year, he called Bitcoin “the devil’s brat of a financial crisis.