Central banks have considered issuing cryptocurrencies - Italy economy minister

Italian Finance Minister Pier Carlo Padoan is seen during a meeting in Rome, Italy, October 31, 2017. REUTERS/Remo Casilli

MILAN (Reuters) - Some central banks have considered issuing cryptocurrencies as part of a bid to avoid bubbles emerging in the fledgling market, Italian Economy Minister Pier Carlo Padoan said on Wednesday.

"Some central banks are looking into, and have even considered issuing, cryptocurrencies, to avoid bubbles that explode and do damage sooner or later," Padoan said at an event organized by energy firm Enel ENEI.MI in Milan.

Digital currencies like bitcoin, which are created and maintained by their users, have taken the investment world by storm, prompting authorities around the world to attempt to rein in their trading.

Reporting by Giancarlo Navach; Writing by Isla Binnie