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Financial Times
Financial Times
Business
Gillian Tett

Central banks going crypto. Is it a good idea?

© Cristiana Couceiro

On the third floor of the dark cylindrical tower that is home to the Bank for International Settlements, I was faced with a sight that made me blink in surprise: white walls.

This may not sound very startling, so let me explain. The BIS is the central bankers’ central bank. It’s based in Switzerland, one of the world’s renowned financial centres. When I’ve visited previously, its decor was reassuringly traditional: dark wood panelling, sober chairs, bland colours, dull art. Like most central banks, it projects an aura of timeless, marble-pillared stability.

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