January 31, 2018 / 1:37 PM / 7 months ago

Central banks have considered issuing cryptocurrencies: Italy Econ Min

MILAN (Reuters) - Some central banks have considered issuing cryptocurrencies as part of a bid to avoid bubbles emerging in the fledgling market, Italian Economy Minister Pier Carlo Padoan said on Wednesday.

Italy's Finance Minister Pier Carlo Padoan attends a conference on the EU's next long-term budget after Brexit in Brussels, Belgium, January 8, 2018. REUTERS/Francois Lenoir

“Some central banks are looking into, and have even considered issuing, cryptocurrencies, to avoid bubbles that explode and do damage sooner or later,” Padoan said at an event organised by energy firm Enel in Milan.

Digital currencies like bitcoin, which are created and maintained by their users, have taken the investment world by storm, prompting authorities around the world to attempt to rein in their trading.

Reporting by Giancarlo Navach; Writing by Isla Binnie

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