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A policy maker of the European Central Bank considers cryptocurrency as a "fairy tale story". He also expressed his negativism on the issue, discarding digital resources as "a complete load of nonsense", despite the bank's position on the matter.
Cryptocurrency a "fairy tale"
The governor of the Estonian central bank and the decision of the European Central Bank Ardo Hansson have expressed their position on the issue of cryptocurrencies and their current decline.
The bubble has already started to collapse and perhaps we should just see to what extent this collapse goes, and what remains when we have achieved a new kind of equilibrium. […] I think we'll be back in a few years and we'll say how we could get into this situation where we believed this kind of fairy tale story. said Hansson.
Moreover, Bloomberg he also reported that Hansson warned authorities that they might have to focus on additional aspects of investor protection, while stressing the fear that cryptocurrency could be used for illicit activities.
It seems that Hansson insists on a completely unsupported narrative, as experts have recently clarified that money and not cryptocurrencies remain king when it comes to financing illegal activities.
Unconsolidated position
Hansson's negative position on the issue of cryptocurrencies does not seem to be in line with the ECB's position.
While the bank has recently revoked the possibility of a cryptocurrency issued by the central bank, it has not really shown any kind of negativism towards the camp.
Indeed, Live Bitcoin News In November it was reported that the president of the ECB said that a digital currency could widen the range of economic actors.
In principle, a digital currency of the central bank could meet the demands for both security and the digitization of the economy. It could also allow monetary policy to more directly reach a broader range of economic actors. – said Draghi.
What do you think of Hansson's position on cryptocurrencies? Do not hesitate to let us know in the comments below!
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