The UN Assistant Secretary-General calls for exploring how cryptocurrency can drive human development

ChainCatcher news, according to Cryptonews, UN Assistant Secretary-General Kanni Wignaraja has called for an exploration of how cryptocurrencies, central bank digital currencies (CBDCs), and stablecoins can drive human development.

Wignaraja pointed out that Bitcoin and Ethereum reached a peak market value of $3.9 trillion in December as alternative investments, suggesting an investigation into whether some of these funds could be used to support education, healthcare, skills development, and job creation.

She emphasized that digital currencies need to support development while ensuring financial stability and recommended that development organizations test cryptocurrency funds under strict regulation. Additionally, she stated that the transparency of blockchain helps strengthen accountability and curb corruption, suggesting that the United Nations Development Programme (UNDP) assist countries in establishing CBDC regulatory frameworks. However, she also acknowledged that the application of digital currencies in sovereign bonds and debt restructuring remains uncertain, and their volatility continues to be a major barrier to large-scale institutional investment.