Central bank representatives from around the world met in Argentina at a meeting organized by the Bank for International Settlements (BIS) to discuss the possibility of issuing a virtual currency. The summit, which was attended by more than 20 countries, was held at the headquarters of the Central Bank of Argentina from 2 to 4 October.

Delegates discussed the pros and cons of digital currencies issued by central banks and how they can help recover sovereignty in the market by establishing a public nominated currency. They also discussed the possibility of implementing this move stages, starting first with wholesale payments and then with retail payments. 

Experts noted that they are analyzing whether the use of a virtual currency could impact a country’s interest rate and examined the advantages and disadvantages that the daily uninterrupted operation of this type of currency could have. The international representatives also discussed the regulation of fintech, as well as the impact of bigtech and innovation on payments.