Microsoft is unlikely to issue its own digital token in the foreseeable future, said Microsoft Corp. President and Chief Legal Officer Brad Smith.
Subscribe to our Telegram channel to stay up to date on the latest crypto and blockchain news.
According to the Microsoft CLO, the money supply should be regulated by an entity that is responsible to the public and "thinks really only about the public interest, and that means governments."
"I'm not a big fan myself of encouraging or asking or wanting us to participate in the issuing of currency," Smith added.
Smith also emphasized Microsoft does not function as a bank and does not want to become a bank. The world has been better served by what has been a movement over centuries to put that in the hands of governments, he said at an online conference hosted by the Bank for International Settlements.
Access more than 50 of the world's financial markets directly from your EXANTE account – including NASDAQ, London Stock Exchange and Tokyo Stock Exchange.