ECB Vice President States Crypto Should Be Regulated Like Other Assets

Translated by: MOS Art Group – Redd

According to on August 30, European Central Bank Vice President Luis De Guindos has stated he wants cryptocurrencies to be subject to the same rules that other assets are. He also expressed his opinion, which gives permission to cryptocurrencies, in order to avoid everything that has to do with money laundering or terrorist financing. The statements were offered in a presentation given as a part of the summer courses offered by the European Parliament.

Luis De Guindos, cryptocurrencies can be easily used for unlawful purposes due to their pseudonymous traits. In his view, those cryptocurrencies do not have any impact on the financial stability of the region, which he calls “crypto-assets”. Those new currencies do not have an economic basis when compared to other more traditional assets. To him, the value of cryptocurrencies only comes from scarcity. However, the ECB is studying the feasibility of the creation of a digital euro. The current situation is that countries all around the world are facing inflation as well as a financial crisis by a large amount of money printing, which caused a lot of capital flow into the cryptocurrency field. As an irresistible tendency in the future, the legal protection rules of cryptocurrencies will be improved day by day.


Edit/Proofread/Posted by Eglise Bell 圣母院钟声

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