The European Central Bank says "not for now" to the regulatory wave that some countries of the world have carried out in relation to the exchange of cryptocurrencies.
On Wednesday, a spokeswoman for the European Central Bank informed a media outlet in the United States that cryptocurrencies have not shown definitive signals that require regulation by this entity.
For Daniele Nouy, Director of Supervision of the entity, there are elements that need regulation and are of greater importance, but what the cryptoactives are not a priority for the European Central Bank, although it does not rule out that if there is any reason to do so they could create an regulation:
We examine the issue from a regulatory perspective, we are ready to do something if necessary, but so far it is not exactly very high on our list of things to do.
Daniele Nouy
Director of Supervision, European Central Bank
For the official, the investment risks with respect to cryptoactives could increase if Bitcoin futures continue to come onto the market, but, to date, this issue is not cause for alarm. This statement joins that of other representatives of financial institutions around the world. For example, the one issued by the Director of the National Bank of Denmark, who cataloged bitcoin as a bubble in the month of December.
To point this out, the director relied on the fact that the futures market could reproduce the scheme of the Tulip Crisis, which greatly threatened the European economy during the seventeenth century, evidencing a collapse that left thousands of people without money. people. In fact, the launch of Bitcoin futures by CBOE caused its price to rise exponentially and reach its historic high.
For its part, the statement of the European Bank is a break before the regulatory landscape around the cryptocurrencies that has lived recently. In countries such as China and South Korea, regulations have been directed especially at money exchange offices. In this context, US authorities have indicated that they will strengthen control over cryptocurrencies but also educational campaigns so that investors understand how the cryptocurrency market works.
Similarly, thanks to the loss of about 530 million dollars due to the Coincheck hack, the Ministry of Finance of Japan decided to regulate the country's exchange houses. On January 30, regulations issued by South Korean authorities to control cryptocurrencies also took effect, after taxes were imposed on the profits generated by exchange houses.
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