The war between Russia and Ukraine could accelerate digital currencies, Larry Fink, chairman of BlackRock's top assets chief executive, said Thursday.
At the time, BlackRock was learning about digital currencies, stablecoins and basic technologies as the company saw an increase in customer interest, Fink wrote in a letter to shareholders.
The conflict in eastern Europe has sparked controversy over the role of digital assets during the war, with some speculating that the Russians could use secret money to avoid sanctions, while Ukraine has raised about $ 64 million with crypto donations to protect the war.
Fink noted that a number of governments have played a very important role in studying digital finance and regulating governance. Earlier in March, President Joe Biden signed an executive order requiring government agencies to engage in a comprehensive review of their policies related to cryptocurrencies and other digital assets. The order focuses on the potential benefits of digital currency issued by the central bank, an issue the Federal Reserve has been researching extensively since 2020.
"A global digital payment system, carefully designed, can improve the performance of international services while reducing the risk of fraud and corruption," Fink wrote. Digital currencies can also reduce cross-border payment costs, adds Fink.
In October, Fink said in an interview that he believed there was a "significant role for the digital currency," whether "bitcoin, or something else, or more than just a legitimate digital currency, the digital dollar."
