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Leading digital currency is a mixture of 'bubble, Ponzi scheme and environmental disaster', warns central bank official

Global Economics Correspondent

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Central banks must be prepared to intervene to stem risks from digital currencies, as bitcoin has become a "combination of a bubble, a Ponzi scheme and an environmental disaster," according to central banking official Agustin Carstens.

The warning indicates public authorities are moving toward a crackdown on digital currencies amid concerns they could undermine the broader financial system, 

BIS: Central banks must be ready to act on bitcoin

Tom Fairless

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