French central banker says digital currency cannot be private

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( Governor of the Bank of France Francois Villeroy de Galhau)

Reuters: PARIS (Reuters) – Digital currency could be useful as cash transactions dwindle in some countries but central banks should be in charge of issuing it, not private companies, Bank of France Governor Francois Villeroy de Galhau said on Saturday.

Spurred by the rise of cryptocurrencies and Facebook’s plans to launch its Libra currency, central banks worldwide are looking into the possibility of issuing digital money to prevent the loss of state control over money.

He added that central banks were planning experiments with digital money and that the issue would be studied by the Eurosystem euro zone central banks. Read More …

Opinion: Our headline from January 15 underlines the urgency ….

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