BEIJING, China—Former U.S. Federal Reserve Chairman Alan Greenspan this week said central banks have no reason to issue digital currency.
“There’s no point for them to do it,” Greenspan said at the Caijing Magazine Annual Conference 2020.
He added that no organization can offer sovereign credit backing that way national currencies do, Pymnts.com reported.
“The fundamental sovereign credit of the United States is far in excess of anything Facebook can imagine,” Greenspan said.
Greenspan’s remarks come on the heels of China’s announcement that it would launch a digital currency in early 2020, Pymnts.com noted.