Commonwealth central bankers set to discuss bitcoin’s role in global remittances

Announcements | October 8, 2015 By:

Commonwealth central bankers and senior finance officials are set to discuss bitcoin and digital currencies within the context of global remittances.

Comprised of 53 member-states, the Commonwealth is among a growing number of intergovernmental bodies to conduct work on digital currency issues.

Bangladesh Central Bank governor Aitur Rahman is set to chair the meeting, according to Commonwealth Secretariat spokesperson Hannah Murphy.

“Commonwealth central bank governors will meet on 6th October to consider a number of policy recommendations to increase and protect remittance flows including the potential of virtual currencies to decrease costs and improve the efficiency of transfers,” said Murphy.

Bitcoin and digital currencies will be discussed within the context of a meeting on “maximising the potential of remittances, a significant source of external finance for many developing countries.