Crypto Currency News

Central Bank of Europe wants to regulate cryptocurrencies in the same way as other assets

The vice president of the ECB gave his stance on crypto regulation.

The regulation of cryptocurrencies is one of the most important issues this year has acquired in the financial agendas of national governments. The search for a regulatory framework that protects investors and the financial system has occupied the highest authorities of the main central banks.
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In Europe, the European Central Bank (ECB) has its eyes on the market.

Luis De Guindos, vice president of the ECB, acknowledged in the last hours that he wants digital assets to be subject to the same rules as other assets. The official clearly opposed the ban, but did slip in some concerns about the ecosystem.

” I would not prohibit them , but issuers should be required to follow the same conditions as other financial assets and avoid everything that has to do with money laundering or terrorist financing , ” said De Guindos in the framework of a series of courses offered by the European Parliament.

The former Minister of Economy of Spain has tirelessly repeated that he does not believe that cryptocurrencies serve as a payment method, but neither does he believe that they negatively affect European or global financial stability. In fact, it considers them an asset equal to others such as gold, stocks or commodities.

On the other hand, Europe is on the lookout for the developments of the “digital euro” which, according to specialists, would help the ECB to combat the rise of decentralized cryptocurrencies. De Guindos assured that they are working on it and acknowledged that it is “necessary “, although he clarified that it is not a simple project.

“Something we have to do. It is not trivial in terms of the possible implications for financial stability and for monetary policy, so we will have to calibrate this project to minimize the possible negative consequences it could have, ” added the official.

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