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BlackRock CEO says Ukraine war could be used to accelerate use of central bank digital currencies

RTN: 'The CEO of BlackRock, one of the biggest investment corporations in the world, thinks that the war in Ukraine and the events surrounding it could be used to accelerate the adoption of digital money controlled by central banks.


'In a letter to shareholders sent on Thursday, Larry Fink wrote that this could prove to be one of the outcomes of the war that are currently by and large under the radar.


'According to Fink, whose company manages $10 trillion worth of assets, countries around the world will be reevaluating what he called their “currency dependencies.”


'With the onset of the war, the US and its allies added Russia’s central bank to their list of entities targeted by sanctions, which brought about a surge in transactions on centralized Bitcoin exchanges in both Russia and Ukraine, and in both of their currencies.


'Reports interpret this as a realization that stablecoins – cryptocurrencies whose market value is pegged to a fiat currency, gold, etc. – can provide safety for assets, and a way to evade sanctions....'

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