The ECB Podcast – Innovation in payments: Libra, blockchain and crypto-assets
European Central Bank Governor Mario Draghi sees cryptocurrencies as risky assets, not real currencies.
Speaking at a conference «Youth dialogue», head of the ECB said, that bitcoin and other cryptocurrencies are not real currencies, but assets. According to him, the European central bank is responsible for the euro, and cryptocurrencies do not have such support. Therefore, these are very risky assets with an extremely volatile exchange rate..
Mario Draghi said that at the moment the volume of virtual currencies is too small to influence macroeconomics. Adding that the monitoring and regulation of this asset class is not within the purview of the ECB, but rather belongs to the area of consumer protection, who must make purchases with knowledge and be aware of the potential risks.
Despite criticism, the International Monetary Fund and the World Bank in April launched private blockchain from «training» cryptocurrency to study the features of its use.
text: Ivan Malichenko, photo: bilder1.n-tv