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European Central Bank is considering Bitcoin regulation

The European Central Bank (ECB) is considering the possibility of regulating the use of digital currencies.

19.Nov.17 9:27 AM
By Daria Zaytseva


European Central Bank is considering Bitcoin regulation

It should be noted that China has never forbidden the use of cryptocurrencies; rather, the country closed the digital exchange markets and banned the launching of ICOs. That is far from a prohibition on use that it would be impossible to provide. It is also interesting to learn how to base the European system of regulation on the actions of the world's largest Communist country.

Fortunately, member of the Governing council Ewald Nowotny understands that the cryptocurrency market is small enough not to destabilize the traditional financial system. Regulators feel much less urgent - and are more likely to adhere to a laissez faire approach - when there is no risk of systemic collapse.

Based on the statements, it is possible that the ECB could "treat the buyer" to digital currencies, and not to attempts of direct regulation or prohibition. Governments around the world are struggling to cope with Blockchain technology and the digital currencies that it spawned. Regulators seem to be very embarrassed, because countries like China use a very restrictive approach, but countries such as Japan officially make Bitcoin legitimate money.

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