ECB Member: Banks consider crypto regulation
A member of the European Central Bank (ECB) said in an interview yesterday that Monetary Union legislators and central banks are investigating whether they should regulate cryptocurrencies.
According to Reuters, Ewald Nowotny, president of the Austrian National Bank, said:
"We wonder if legislators or central banks should intervene."
These statements he made during a conference in Florence in Italy.
A Bitcoin ban is being considered, as China wants to follow as an example. In addition, the authorities assess cryptocurrencies as "fraudulent."
The councilor himself has a neutral attitude towards the risks of cryptocurrencies. "It's like buying shares in the stock market ... people who invest in the product can suffer losses."
Just last month, Mario Draghi, President of the ECB, also commented on the topic. He said cryptocurrencies are not "mature" to be regulated. He also pointed out that the European Central Bank does not have the power to regulate cryptocurrencies for the member states. These statements followed the closing of the Chinese stock market in September.
According to Reuters, Ewald Nowotny, president of the Austrian National Bank, said:
"We wonder if legislators or central banks should intervene."
These statements he made during a conference in Florence in Italy.
A Bitcoin ban is being considered, as China wants to follow as an example. In addition, the authorities assess cryptocurrencies as "fraudulent."
The councilor himself has a neutral attitude towards the risks of cryptocurrencies. "It's like buying shares in the stock market ... people who invest in the product can suffer losses."
Just last month, Mario Draghi, President of the ECB, also commented on the topic. He said cryptocurrencies are not "mature" to be regulated. He also pointed out that the European Central Bank does not have the power to regulate cryptocurrencies for the member states. These statements followed the closing of the Chinese stock market in September.
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