Citigroup’s CEO predicts Governments-sponsored digital currencies - BBG

Citigroup Inc. CEO Michael Corbat said late-Wednesday in an interview at the Bloomberg Year Ahead summit in New York, Bitcoin presents a real threat to the financial system and hence, the governments will react against the disruption and issue their own versions of the digital currencies.

Key Quotes:

“I don’t think governments are going to take lightly other people coming in and potentially disrupting their abilities around data, around tax collection, around money laundering, around know-your-customer.”

“It’s likely that we’re going to see governments introduce, not cryptocurrencies -- I think cryptocurrency is a bad moniker for that -- but a digital currency.”

“You won’t hear us be dismissive in terms of the nascent technology because it’s real and there is something there.”