Governors of 26 central banks: COVID-19 has become a catalyst for the development of electronic settlement technologies

The pandemic of the new coronavirus COVID-19 has become a catalyst for the development of electronic payment technologies, said the governors of 26 central banks in Central Asia, the Black Sea region and the Balkans. The meeting was also attended by representatives of the International Monetary Fund and the World Economic Forum.

So, the parties noted that the total quarantine, which began in March this year, has significantly affected the economies of the vast majority of countries. Banknotes that can carry a dangerous virus on themselves become unsafe for users, so global financial regulators began to consider in more detail the issue of the imminent launch of national cryptocurrencies. The participants of the event agreed that already at the first stage, financial institutions should assess the consequences of creating a digital asset on monetary policy and financial stability, as well as create a program to minimize risks when working with cryptocurrencies.