ECB - Virtual or virtueless?
Now that you understand what the ECB is, you can probably conclude that their opinion is important regarding the regulation and possible influence they have on cryptocurrencies. On the blog named “Virtual or Virtueless? The evolution of money in the digital age” written by lecturer Yves Mersch, you’ll find important opinions and information related to how the ECB see’s cryptocurrencies. Unfortunately, our friend Mersch at the ECB doesn’t seem to take kindly to digital currencies and has written very ill of its usage in our society. You should read this page carefully and form your own opinions, but the opinions of regulators are very important for the future of cryptocurrencies.
Topics this article dives into:
• What is money?
• Mediums of exchange
• Unit of account
• Store of value
• Public versus private provision of money
• Potential impact of virtual currencies
• Regulating virtual currencies
• Restraining the facilitators
• Protecting financial market infrastructures
• Regulating credit institutions
• Central bank issuance of digital currency
- Whether you agree or disagree doesn’t matter. The opinions of people in positions at highly regarded institutions like the ECB do matter and should be considered when considering the future of cryptocurrencies. This page offers a fairly detailed account of a well-respected regulator, so take notes!
- This piece seems to be very against the use and implementation of cryptocurrencies, which doesn’t exactly excite me as a crypto enthusiast.