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The European Central Bank does not ignore cryptocurrency

The official representative of the European Central Bank (ECB) for a long time and actively assessing the technology of the blockchain as a whole, spoke this week to emphasize that the bank is closely watching cryptocurrency.

08.Nov.17 10:17 AM
By Daria Zaytseva


The European Central Bank does not ignore cryptocurrency

In an interview published on October 29, Benot Cur, one of the members of the executive board of the central bank, briefly described the bank's views on this issue, informing Le Journal du Dimanche that it was monitoring their development and dissemination.

He said that the ECB is not "ignoring" the spread of cryptocurrency. And so, at present he does not consider them to be a risk to the bank or the euro.

Cur told the organization:

"At the moment, cryptocurrencies do not pose any monetary risk, because these amounts are marginal. These are speculative financial instruments that create financial, or even criminal, risks. "

Some countries are moving away from physical accounts and coins to their own cryptocurrencies, so central banks are closely monitoring them, he continued.

In September, the ECBs President Mario Draghi said that countries in the eurozone could not use their own cryptocurrencies, but instead each member state had to use the euro.

Draghi later said that the ECB could not regulate cryptocurrencies.

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