In a public video conference, European Central Bank (ECB) President Mario Draghi answered a question that has been the main debate of financial organizations at international level, giving an official opinion of the European Continent on a position that could be adopted regarding the use of cryptocurrencies.
Many of you posted questions about whether the ECB is going to ban Bitcoins or its going to regulate Bitcoins, (
) I have to say its not the ECBs responsibility to do that.
These words sound surprising not only for the audience but for the media that covered such news, as it marks a big separation from other opinions and initiatives that strengthened the rumors about strong regulations for the cryptocurrency market.
These words seem to be a nuanced response to statements made by Agustin Carstens, head of the Bank for International Settlements, who called for central banks to end what he described as the Ponzi scheme of cryptocurrencies, by restricting their access to banks and financial infrastructure.
Read More:
https://zycrypto.com/european-central-bank-not-job-regulate-bitcoin-cryptocurrencies/I'm sure President Graghi knows what he is saying. He is being realistic, but not necessarily supporting Bitcoin because he is working in a bank. It's not truly their responsibility, but what they can do about it is to adapt to the changes in the financial climate of the world. More and more people embrace digital currency and the more the central authorities try to suffocate its growth. the more people support it, thus, accelerating its development. You cannot prevent bitcoin to grow, you can only outsmart it. Fortunately, nobody ever succeeded.
On the other hand, Agustin Carsten's speech about cryptos as Ponzi scheme was made out of ignorance and fear of the unknown.