ESTCOIN BACKS DOWN AS BANKING AUTHORITIES BULLY ESTONIA
‘THE CURRENCY OF THE EUROZONE IS THE EURO’
As noted by Bloomberg, Estonia is one of the most technologically advanced states in its region and has been planning on issuing its own state cryptocurrency — the Estcoin — for quite some time. European Central Bank President Mario Draghi, however, has been critical of the idea, stating that only the euro may be used in the small country. As dictated by Draghi in September of last year:
No member state can introduce its own currency; the currency of the eurozone is the euro.
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