Central Bank of Azerbaijan does not plan to issue a state-backed crypto because of the “great risks”

Central Bank of Azerbaijan (CBA) has stated that it has no plans to issue a central bank digital currency (CBDC), due to the “risky and dangerous” nature of such products.

First Chairman of the CBA Alim Guliyev made these comments, adding for good measure that he believes money laundering to be the goal of cryptocurrencies.

CBDCs have gained the spotlight recently after the stablecoin boom as states began wondering if a bank-backed digital currency would be beneficial.

Also read: Salt Lending Holdings Inc., once associated with high-profile crypto industry stalwart Erik Voorhees, is facing a U.S. SEC probe over its 2017 $50 million token sale

Source: https://www.cryptodigest.com/featured/azerbaijan-not-planning-on-issuing-a-cbdc/