Bank of Japan Governor Haruhiko Kuroda called on Tuesday for accelerated efforts by global policymakers to curb risks that may emerge from the wider use of private digital currencies.

“If the existing regulatory framework is left unchanged, private digital assets could cause greater risks going forward,” such as them being used for illicit purposes or to bypass capital controls, Kuroda said.

BOJ official who oversaw policy review promoted as executive director

Kuroda made the remarks in a conference held in Zurich hosted by the International Monetary Fund and the Swiss National Bank, which was broadcast live on the internet.