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

Leave a Comment

Your email address will not be published. Required fields are marked *