Digital currencies are not real money, but an asset with an aesthetic importance to cryptographic connoisseurs, according to Agustín Carstens, the General Manager of Bank of International Settlements (BIS), the organization of more than sixty central banks from around the globe. Cartens made those remarks on Thursday during the Finance and Global Economics Forum of the Americas in Miami.

The BIS head presented his “Money and payment systems in the digital age” report with virtual coin part of it, dubbed “Cryptocurrencies: fake money.”

“No discussion of money and payments in the digital age would be complete without addressing cryptocurrencies. But are cryptocurrencies money? No. The use of “currencies” is misleading,” Carstens told the attendees.

Virtual coins, including Bitcoin (BTC) and Ether…

This article appeared first on Cryptovest

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