Tag: European Central Bank

Virtual Currencies to Stay Despite Deflation of Bubble: ECB

Virtual Currencies to Stay Despite Deflation of Bubble: ECB

European Central Bank board member Yves Mersch recently remarked that regulators and legislators should still keep watch over virtual currencies even after the bubble has burst as the innovation may remain even if market leaders die out. Mersch added that cryptocurrencies are not real money and will stay as such in the foreseeable future due to its small market share and limited ties to the real economy. He also revealed that the ECB will not be issuing digital money as it is unnecessary and may even have a negative impact on the financial system.   Source: Reuters

International Regulators to Discuss Bitcoin Risk at G20

International Regulators to Discuss Bitcoin Risk at G20

It was reported from the World Economic Forum in Davos last Friday that international regulators will be discussing the risks posed by Bitcoin at the next G20 summit this coming March. Benoit Coeure, European Central Bank director said that the international community is expected to focus on issues regarding cryptocurrencies at the G20 2018 in Buenos Aires, and may be prepared to answer questions on the matter after the discussion. Source: Reuters