Central Bank of Azerbaijan Rules Out Issuing Cryptocurrency

[davinmark]

Hey Stakers

Well i've just read a news about Azerbaijan, the news said The Central Bank of Azerbaijan (CBA) has indicated that it does not intend to issue a state-backed cryptocurrency, also known as a central bank digital currency 

first Chairman Alim Guliyev stated that the Bank treats cryptocurrencies conservatively, based on a belief that the use of digital currencies and similar financial instruments comes with great risks.

According to Guliyev, cryptocurrencies are often used for money laundering, which is a major reason why the Central Bank of AzerbaijanA oes not intend to launch a central bank digital currency anytime soon

 

Whats your thought?

Source : https://www.ccn.com/central-bank-of-azerbaijan-rules-out-issuing-cryptocurrency/

[bmg]

I can see why some banks are hesitant to use digital currency  because of money laundering but theres risk in any aspect where money is involved.