BIS official casts doubt on El Salvador bitcoin ‘experiment’

LONDON, June 11 (Reuters) – El Salvador’s decision to make Bitcoin legal tender is an “interesting experiment” with a speculative asset that fails the test as currency, a senior global central bank official said Friday.

“El Salvador is indeed an interesting experiment,” said Benoit Coeure, head of the Bank for International Settlements’ Innovation Center.

“We have made it clear at the BIS that we do not regard Bitcoin as a means of payment. Bitcoin is a speculative asset and should be regulated as such, ”Coeure said at the opening of a regulatory research center with the Bank of England. (Reporting by David Milliken and Huw Jones)

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