United Nations Assistant Secretary-General: Suggests exploring how cryptocurrency can promote human development

On February 18th, United Nations Assistant Secretary-General Kanni Wignaraja issued a statement calling for exploration of how cryptocurrencies, central bank digital currencies (CBDCs), and stablecoins can promote human development. Wignaraja pointed out that Bitcoin and Ethereum reached a peak market value of $3.9 trillion as alternative investments in December, suggesting an investigation into whether part of the funds could be used to support education, healthcare, skill development and job creation. She emphasized that digital currencies need to support development while ensuring financial stability, and suggested that development organizations test cryptocurrency funds under strict regulation.

In addition, she stated that the transparency of blockchain helps strengthen accountability and curb corruption, recommending the United Nations Development Programme (UNDP) assist countries in establishing CBDC regulatory frameworks. However, she also acknowledged uncertainty remains over the use of digital currency in sovereign bonds and debt restructuring; its volatility is still a major obstacle for large-scale institutional investment.