Norway sees no threat from cryptocurrencies

17.05.2021 |

Chairman of the Central Bank of Norway Ida Walden Bash does not see a threat to the national economy from free cryptocurrencies. In her opinion, the widespread use of digital assets is unlikely to lead to the complete abandonment of national currencies.

However, the regulator expressed confidence that in the near future there will be significant changes in the financial sector in the world. Cryptocurrencies will be able to take a significant place in the economy, but a special spread of free financial assets can be observed among individuals and investors at various levels. Central Banks and governments of various countries will have to keep up with the changes in monetary policy in order to maintain their leading positions. That is why Bash talked about plans to launch its own digital national currency in the next two years.

Already, the Norwegian regulator is seeing a significant advance in technology on the part of commercial banks in the country. They are providing better terms and quality service in the delivery of financial services.