The Central Bank of Azerbaijan (CBA) has no plans to release its own crypto currency because of the associated risks with this step. The journalists said the first Deputy CEO of CBA Alim Guliyev.
According to him, the regulator is very conservative refers to cryptocurrencies, considering that these financial instruments carry more risk. He noted that digital money are often used to launder illegal funds, they are not regulated and it is unclear who is the ultimate beneficiary.
Earlier this year, the head of the CBA Elman Rustamov called on the population to be careful in transactions with cryptocurrencies. As he pointed out, these investments are extremely risky.
Recently the possibility of issuing digital currency Central Bank (CBDC), including based on blockchain technology, is seen in a number of countries, including Uruguay, Norway, China, Thailand, Canada and Israel. On the eve of its consideration of the matter, the Central Bank has urged IMF chief Christine Lagarde (Christine Lagarde).
Earlier in the National Bank of Switzerland stated that the issue of CBDC carries risks for financial stability, expressed this opinion and the Central Bank of South Korea. Experts of Bank of international settlements came to the conclusion that the issue
CBDC may threaten the stability of the global financial system.