The market bubble for virtual currencies is already deflating, but central banks should still pay attention to them as innovation can remain even if the market's early leaders have disappeared, European Central Bank board member Eaves Moersch said on Thursday.
“Virtual currencies are not money, and they will not become so in the near future,” says Mr. Mersch. “Their market share is still small and their links to the real economy are still limited.”
“But that could change. Therefore, regulators and legislators at all levels must urgently address the issue of mitigating the potential risks that may arise from activities associated with virtual currency.”
Mersch also said that he does not see a compelling motivation for the European Central Bank to issue digital money, an issue currently being explored by some central banks, since such an innovation is not currently necessary and could have a negative impact on the financial system.
Subscribe to our news at Telegram
According to https://www.reuters.com
You May Also Like
Tezos launched beta network
The Tezos Foundation officially announced the launch of an experimental version of the Tezos platform on its website. The main launch of the network is planned for the third quarter of this year.
France accuses intelligence agent of selling state secrets for Bitcoin
According to local media, last week a French official was arrested on charges of selling state secrets for Bitcoin on a dark web site.
