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The financial regulator of Spain has told about minuses virtual currencies

Digital money carries considerable risks, says Central Bank President Luis Linde.

29.May.18 8:44 AM
By Shawn Highstraw


The financial regulator of Spain has told about minuses virtual currencies
Representatives of the Central Bank of Russia have repeatedly spoken about the disadvantages of virtual currencies and risks for investors associated with volatility. Heads of financial regulators in other states also pay attention to the shortcomings of digital money, pointing to their attractiveness to scammers and even terrorists. The Central Bank of Spain is of the same opinion: President Luis Linde believes that crypto-currencies bear more risks than benefits.

The head of the Bank of Spain notes that the methods of using digital money, known to date, do not bring too much benefit. In accordance with the established practice, the authorities of many countries are not inclined to allow payment by crypto-currencies. By the way, the Ministry of Finance of Russia also talked about the special status of virtual currencies after the adoption of norms that regulate the market. It is assumed that it is simply impossible to buy goods or pay for the service with the same bitcoins from our compatriots.

It is worth noting that in Spain they offer to make a bet on the study of the possibilities of implementing blockchain in various areas of activity. Luis Linde believes in the promise of this technology and encourages regulators of other states to take it into account.

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