--- title: "Meaning & Key Takeaway of: A digital currency issued by a central…" description: "\"A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.\" — Jerome Powell" image: "https://sms4smile.com/quotes/i/1a0/jerome-powell-7353_bank_a-digital-currency-issued-by-a-central-b_2264261.jpg" --- # A digital currency issued by a central bank would be a… ![“A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.” quote by Jerome Powell](https://sms4smile.com/quotes/i/1a0/jerome-powell-7353_bank_a-digital-currency-issued-by-a-central-b_2264261.jpg) [Download](https://sms4smile.com/quotes/i/1a0/jerome-powell-7353_bank_a-digital-currency-issued-by-a-central-b_2264261.jpg) [Open image](https://sms4smile.com/quotes/i/1a0/jerome-powell-7353_bank_a-digital-currency-issued-by-a-central-b_2264261.jpg) > “A digital currency issued by a central bank would be a global target for cyber attacks, cyber counterfeiting, and cyber theft.” [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) ## About This Quote This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation. A central bank digital currency would attract cyber threats like attacks, counterfeiting, and theft. **In simple terms:** CBDC could become a cyber‑crime target. Key Takeaway Implement robust security for digital currencies. Themes finance technology cybersecurity policy Mood cautious serious Type policy technical When to use this quote - central bank planning - cyber defense training - regulatory frameworks Key Concepts digital currency risk management Questions to Reflect On - What safeguards are essential for a CBDC? - How can international cooperation reduce cyber risks? A Different Perspective Security may be underestimated. ★ ★ ★ ★ ★ No ratings yet [Attacks Cyber](https://sms4smile.com/quotes/about/attacks-cyber-5221842/) [Bank](https://sms4smile.com/quotes/about/bank/) [Central bank](https://sms4smile.com/quotes/about/central-bank/) [Counterfeiting Cyber](https://sms4smile.com/quotes/about/counterfeiting-cyber-5221840/) [Cyber](https://sms4smile.com/quotes/about/cyber/) [Cyber Counterfeiting](https://sms4smile.com/quotes/about/cyber-counterfeiting-5221841/) [Digital](https://sms4smile.com/quotes/about/digital/) [Digital Currency](https://sms4smile.com/quotes/about/digital-currency-588174/) [Goals](https://sms4smile.com/quotes/about/goals/) [Target](https://sms4smile.com/quotes/about/target/) [Target Cyber](https://sms4smile.com/quotes/about/target-cyber-5221843/) [Technology](https://sms4smile.com/quotes/about/technology/) [Theft](https://sms4smile.com/quotes/about/theft/) ## Related quotes > [The Federal Reserve and other central banks have adopted broad public policy objectives to guide the development and oversight of the payments system. At…](https://sms4smile.com/quotes/jerome-powell/the-federal-reserve-and-other-central-banks-have-adopted-broad-public/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [Below-target inflation increases the real value of debts owed by households and businesses and reduces the ability of central banks to respond to downturns.](https://sms4smile.com/quotes/jerome-powell/below-target-inflation-increases-the-real-value-of-debts-owed-by/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [Central banking often comes across as obscure and complicated, and we try to help the public understand what we do.](https://sms4smile.com/quotes/jerome-powell/central-banking-often-comes-across-as-obscure-and-complicated-and-we/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [If the public understands the central bank's views on the economy and monetary policy, then households and businesses will take those views into account…](https://sms4smile.com/quotes/jerome-powell/if-the-public-understands-the-central-bank-s-views-on-the-economy-and/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [You'll be using digital currency. I think really what will happen is you'll use a combination of bitcoin, ether, your devices, the 'Internet of…](https://sms4smile.com/quotes/tyler-winklevoss/you-ll-be-using-digital-currency-i-think-really-what-will-happen-is/) [Tyler Winklevoss](https://sms4smile.com/quotes/author/tyler-winklevoss/) > [Digital currency is not going away. It's here to stay.](https://sms4smile.com/quotes/jensen-huang/digital-currency-is-not-going-away-it-s-here-to-stay/) [Jensen Huang](https://sms4smile.com/quotes/author/jensen-huang/) > [“Bitcoin or other digital currency isn’t saved in a file somewhere; it’s represented by transactions recorded in a blockchain—kind of like a global spreadsheet…](https://sms4smile.com/quotes/don-tapscott/bitcoin-or-other-digital-currency-isn-t-saved-in-a-file-somewhere-it/) [Don Tapscott](https://sms4smile.com/quotes/author/don-tapscott/) > [I do think some digital currency will end up being the reserve currency of the world. I see a path where that's going to…](https://sms4smile.com/quotes/brian-armstrong/i-do-think-some-digital-currency-will-end-up-being-the-reserve/) [Brian Armstrong](https://sms4smile.com/quotes/author/brian-armstrong/) > [The average person may, at a high level, think of us as a digital currency bank, but we're not a bank.](https://sms4smile.com/quotes/brian-armstrong/the-average-person-may-at-a-high-level-think-of-us-as-a-digital/) [Brian Armstrong](https://sms4smile.com/quotes/author/brian-armstrong/) > [I think it's fundamentally a good sign that more and more professional traders and market makers are providing liquidity to the whole ecosystem. It…](https://sms4smile.com/quotes/fred-ehrsam/i-think-it-s-fundamentally-a-good-sign-that-more-and-more/) [Fred Ehrsam](https://sms4smile.com/quotes/author/fred-ehrsam/) > [Earlier, physical currency used to dominate. Now, mobile currency or digital currency is dominating. For digital currency, fintech is very crucial.](https://sms4smile.com/quotes/n-chandrababu-naidu/earlier-physical-currency-used-to-dominate-now-mobile-currency-or/) [N. Chandrababu Naidu](https://sms4smile.com/quotes/author/n-chandrababu-naidu/) > [I hold no economic interest in any company in this industry; however, I do hold and use digital currency for my personal use. I…](https://sms4smile.com/quotes/perianne-boring/i-hold-no-economic-interest-in-any-company-in-this-industry-however-i/) [Perianne Boring](https://sms4smile.com/quotes/author/perianne-boring/) > [I only dabble in the digital currency. I'm not an expert or know if it's going to boom or bust. But being a business…](https://sms4smile.com/quotes/pat-connaughton/i-only-dabble-in-the-digital-currency-i-m-not-an-expert-or-know-if-it/) [Pat Connaughton](https://sms4smile.com/quotes/author/pat-connaughton/) > [It's important to understand how Coinbase thinks about regulation and compliance in the digital currency space. As an exchange, we view compliance as key…](https://sms4smile.com/quotes/brian-armstrong/it-s-important-to-understand-how-coinbase-thinks-about-regulation-and/) [Brian Armstrong](https://sms4smile.com/quotes/author/brian-armstrong/) > [In a world with many blockchains and hundreds of tradable tokens built on top of them, entire industries are automated through software, venture capital…](https://sms4smile.com/quotes/olaf-carlson-wee/in-a-world-with-many-blockchains-and-hundreds-of-tradable-tokens/) [Olaf Carlson-Wee](https://sms4smile.com/quotes/author/olaf-carlson-wee/) ## More by Jerome Powell > [Alignment of business strategy and risk appetite should minimize the firm's exposure to large and unexpected losses. In addition, the firm's risk management capabilities…](https://sms4smile.com/quotes/jerome-powell/alignment-of-business-strategy-and-risk-appetite-should-minimize-the/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [The too-big-to-fail reform project is massive in scope. In my view, it holds real promise. But the project will take years to complete. Success…](https://sms4smile.com/quotes/jerome-powell/the-too-big-to-fail-reform-project-is-massive-in-scope-in-my-view-it/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [The financial crisis and the Great Recession left firms with excess capacity, reducing incentives to invest. If businesses expect slower growth to continue, that…](https://sms4smile.com/quotes/jerome-powell/the-financial-crisis-and-the-great-recession-left-firms-with-excess/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [All economic forecasts are subject to considerable uncertainty. 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But we are responsible for regulating and supervising banking…](https://sms4smile.com/quotes/jerome-powell/the-federal-reserve-is-not-charged-with-designing-or-evaluating/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [Although I have never worked in a community bank, I have been a customer, and I know from personal experience the special skills that…](https://sms4smile.com/quotes/jerome-powell/although-i-have-never-worked-in-a-community-bank-i-have-been-a/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [Perhaps the greatest challenge for the resolution of a systemic global bank is the possibility that public or private actors in different countries might…](https://sms4smile.com/quotes/jerome-powell/perhaps-the-greatest-challenge-for-the-resolution-of-a-systemic/) [Jerome Powell](https://sms4smile.com/quotes/author/jerome-powell/) > [An efficient payments system provides the infrastructure needed to transfer money in low-cost and convenient ways. 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