UBS CEO welcomes cryptocurrency advances but urges caution

News June 26, 2019 No Comments

UBS CEO welcomes cryptocurrency advances but urges caution

ZURICH: Switzerland should welcome innovation in cryptocurrencies but needs to be on guard against potential abuses by criminals, UBS Group Chief Executive Sergio Ermotti told a panel discussion on Tuesday.

“On balance (a) positive development, but watch out,” he said when asked how he felt about the new Swiss-based Libra cryptocurrency project led by Facebook.

Advertisement

Advertisement

Ermotti was speaking at a banking conference arranged by the Swiss Finance Institute.

(Reporting by Michael Shields; Editing by Jan Harvey)

Leave a Reply

Your email address will not be published. Required fields are marked *