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Cryptos

10 Nov 2017 : 20:01 Posted by SiteAdmin Comments: 0 Views: 
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In the midst of Bitcoin's wider awareness and adoption, the European Central Bank (ECB), which has previously evaluated Blockchain technology numerous times, seems to be quiet and distant from all the recent news and happenings.

In the midst of Bitcoin's wider awareness and adoption, the European Central Bank (ECB), which has previously evaluated Blockchain technology numerous times, seems to be quiet and distant from all the recent news and happenings. Or rather, this was the case until Benoît Cœuré, an executive member of the Central Bank, broke his silence stressing that they are not ignoring cryptocurrency.


ECB is watching the cryptocurrency scene
Despite the organization not having power to regulation Bitcoin, Cœuré shared the bank's stance on cryptocurrency in an interview with Le Journal du Dimanche on Oct. 29. He claimed that the bank is following the development of cryptocurrency, briefly elaborating their views about the Bitcoin and other cryptocurrencies.

At present, the bank does not consider digital currencies a threat to the euro. They "don't pose any monetary risk because the amounts involved are marginal," he said.

Central Banks across the world are closely monitoring the cryptocurrencies
Cœuré told the organization:

"They are speculative financial instruments which create risks of a financial or even criminal nature. The central banks are following their development very closely because they can spread very rapidly, especially in countries which are moving away from banknotes and coins."