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Title: European Central Bank: It is not our job to Regulate Bitcoin Post by: zycrypto on February 15, 2018, 03:08:55 PM 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 it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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/ Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: CryptoBeefy on February 15, 2018, 03:11:50 PM This is good news and stops a portion of the scaremongering and FUD that's been going on. The market is starting to look a little green so hopefully we now see a nice little run and some positivity again
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Michellekking on February 15, 2018, 03:16:28 PM 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. That is good news for bitcoin. European Banks are not about to ban bitcoin transactions. He rejected a previous false statement that European Banks would ban bitcoin. This will make people more confident about bitcoin.“Many of you posted questions about whether the ECB is going to ban Bitcoins or it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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/ Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: jhean_arcane on February 15, 2018, 10:09:32 PM 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 it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: hosseinimr93 on February 15, 2018, 10:15:04 PM It's very good news. I am happy we are hearing good news these days. After Senate discussion which was positive, now we are hearing this news. Seems that that governments are going to accept bitcoin.
Hope to hear good news after G20 discussion on March. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: FrueGreads on February 15, 2018, 10:20:38 PM I agree that it's not their call to try to regulate crypto. They could o course state their opinion if consulted, but governments or special entities appointed by governments will have the final word regarding crypto regulation. I guess that those asking for banks to "shut down" the so called ponzi scheme, would like for them to ban credit card purchases, like some banks are doing, or block transactions to exchanges etc. I don't think that's the way, and the banks that are doing that will just lose clients, because people will eventually find a way to buy crypto. So I guess Mario Draghi is doing the right thing.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: xieqieshangu9 on February 15, 2018, 10:26:54 PM This indicates that BTC will not be banned in Europe!
Europe's BTC investors will not worry about the impact of their policies on BTC! To Europe's BTC investor confidence! Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: 2fresh on February 15, 2018, 10:27:58 PM 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 it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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/ Quite unexpected to me but very good news. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: MakeMoneyBtc on February 15, 2018, 10:28:54 PM It is clearly that all the news that people spread on the internet in last weeks are fake and governments or banks dont have anything to do with bitcoin and they dont want to do anything against it. This is the only kind of news we need to belive, those ones were directors from banks or politicians speak in public and say what the really truth is.
Bitcoin does not affect governments so much and thats why they are not going to regulate it any time soon. Until thousands of people are going to use bitcoin to pay for food, clothes, shelter governments will not do anything to stop or regulate it. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Kemarit on February 15, 2018, 10:38:36 PM Well this statement is a big slapped on the face of countries like France and Germany who hates bitcoin and cryptocurrency, even demanding in G20 a joint proposal to regulate it.
https://www.reuters.com/article/us-global-bitcoin-france-germany/france-germany-to-make-joint-bitcoin-regulation-proposal-at-g20-summit-idUSKBN1F728X Quote “We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” Le Maire told reporters. I'll consider the statement European Central Bank (ECB) President Mario Draghi as a win for the crypto enthusiast, although I was surprised by it. I really thought that they (ECB) are very against it, but guess he really knows that crypto is not that disruptive as other is trying to picture specially bitcoin. And I'm also against France and Germany calling for a joint and universally crypto regulations. They can't force a crypto friendly country such as Japan or Belarus to follow such stance. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Marine8 on February 15, 2018, 10:38:49 PM We need answers such as this one in order for the crypto community to grow stronger.Am sure any other answer would have caused another fudd and affected the crypyto community again.That s good news to hear.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: hase0278 on February 15, 2018, 10:42:40 PM We need answers such as this one in order for the crypto community to grow stronger.Am sure any other answer would have caused another fudd and affected the crypyto community again.That s good news to hear. Even if it could have caused another FUD, don't worry about it since it will be answered in the future anyway and the public will know the truth sooner or later. Nevertheless this is really a good news since there would be no FUD about Europe banning Bitcoin for now since it is made clear that they will only try to regulate it and ECP stated that it is not their job to regulate bitcoin.Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Rostock on February 15, 2018, 10:46:01 PM This betrays a little confidence in the future. But I think that everything is not so simple. Today, for example, they can not resolve this issue, so he gave such an answer.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: darkangel11 on February 15, 2018, 10:49:23 PM Well this statement is a big slapped on the face of countries like France and Germany who hates bitcoin and cryptocurrency, even demanding in G20 a joint proposal to regulate it. https://www.reuters.com/article/us-global-bitcoin-france-germany/france-germany-to-make-joint-bitcoin-regulation-proposal-at-g20-summit-idUSKBN1F728X Quote “We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” Le Maire told reporters. I'll consider the statement European Central Bank (ECB) President Mario Draghi as a win for the crypto enthusiast, although I was surprised by it. I really thought that they (ECB) are very against it, but guess he really knows that crypto is not that disruptive as other is trying to picture specially bitcoin. And I'm also against France and Germany calling for a joint and universally crypto regulations. They can't force a crypto friendly country such as Japan or Belarus to follow such stance. It doesn't mean they hate it! Germany is a tax haven with their no tax if you hold for a year rule, and their banks are mostly pro crypto. I have used some German bank branches in the past and they've been always very cooperative. They want to regulate it because they want the ICO scams to register, and of course they want taxes because they're greedy ;) Anyway, they're far from being anti crypto. For now. As for France, they are one of the most greedy nations with their high taxes. Obviously they need money to manage their refugee problem, and they are a socialist state on top of it all, so they will suck upper classes dry. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: alexcopper on February 15, 2018, 10:53:47 PM I agree. Banks shouldn't control what anyone does with their money.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Glorious04 on February 15, 2018, 10:54:53 PM It is a good news. But this statement is also ironic. It is not because he excluded bitcoin from their regulations doesnt mean they are not interested in bitcoin too. It could be a reversed psychology. Maybe they are taking a big preparations on their next steps?
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: gidaahmad on February 15, 2018, 10:59:53 PM I am surprised. I think the ECB instead supports the regulation for Bitcoin. But after reading the news you wrote, I became aware that my prejudice has been wrong. Thanks for sharing.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: senin on February 15, 2018, 11:01:32 PM The fact that the European Central Bank does not intend to influence the circulation and circulation of crypto-currencies in Europe in any way is already a very good news for the Crypto-currency. Usually representatives of banks are sharply negative about the introduction of crypto currency. And here the head of the European Central Bank makes such a statement. Not casually, probably, that bitcoin has started not bad to grow now in the price.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: bitkanu on February 15, 2018, 11:06:57 PM Well this statement is a big slapped on the face of countries like France and Germany who hates bitcoin and cryptocurrency, even demanding in G20 a joint proposal to regulate it. "he really knows that crypto is not that disruptive as other is trying to picture specially bitcoin".https://www.reuters.com/article/us-global-bitcoin-france-germany/france-germany-to-make-joint-bitcoin-regulation-proposal-at-g20-summit-idUSKBN1F728X Quote “We will have a joint Franco-German analysis of the risks linked to bitcoin, regulation proposals and these will be submitted as a joint proposal to our G20 counterparts at the G20 summit in Argentina in March,” Le Maire told reporters. I'll consider the statement European Central Bank (ECB) President Mario Draghi as a win for the crypto enthusiast, although I was surprised by it. I really thought that they (ECB) are very against it, but guess he really knows that crypto is not that disruptive as other is trying to picture specially bitcoin. And I'm also against France and Germany calling for a joint and universally crypto regulations. They can't force a crypto friendly country such as Japan or Belarus to follow such stance. Kinda agree with this statement, people using bitcoin as a speculative tool and when they got the profits, they will get their money back to the bank, not for the means of spending or used as daily currency, therefore it's just works like another usual commodity. Therefore bank will just having fun with the additional money circulation they get. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: littlebill16 on February 15, 2018, 11:11:53 PM This does not mean that bitcoin will not be regulated within Europe. It just does not fall under the jurisdiction of the ECB. It would more likely fall under the jurisdiction of the European parliament or even the country parliaments. It says this right there in the article.
Regulation is inevitable and it's in fact needed over time. It just has to be well balanced regulation that does not harm Bitcoins progress and innovation. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: seoincorporation on February 16, 2018, 04:23:22 PM Really interesting, thanks for sharing. For what I’ve read in European newspapers, even the Spanish government was trying to get the BTC discussion into the G20 meeting the next year. The concern what about how the European Central Bank (and others entities) where going to approach to the BTC “problem” (Spaniard president words).
So those are really good news. In my opinion, Draghi is making such an important point: BTC is not for our concern. This is just The Director making clear his position about Cryptocurrency, a promising one, maybe, for it includes Europa itself. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: budi691 on February 16, 2018, 04:28:51 PM because bitcoin has its own rules, the World Bank can only monitor and analyze the movement of bitcoin this world. Bitcoin does not merge into a bank, and they can not regulate bitcoin.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: flippener on February 16, 2018, 09:31:41 PM because bitcoin has its own rules, the World Bank can only monitor and analyze the movement of bitcoin this world. Bitcoin does not merge into a bank, and they can not regulate bitcoin. I agree - I think he says they won't not because he doesn't want to but because he knows technically it isn't possible. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: bug.lady on February 16, 2018, 10:01:18 PM [..] doesn't it simply mean that while it is not a role of European Central Bank to regulate bitcoin, the role of National Central Banks and governments remains to regulate it on a national level? Switzerland is regulating ICOs, many countries follow, in many countries there are similar regulations at least for taxes if not broader... we'll see“Many of you posted questions about whether the ECB is going to ban Bitcoins or it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s responsibility to do that.” [..] Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: boakyei on February 16, 2018, 10:12:29 PM Good news for Bitcoins. If european central bank also lose hope in the fight of protecting cryptocurrency and ban it, then we are doom to see bitcoins come 100 USD price. If Asia is given up on crypto coins, Europe wont.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Jet Cash on February 16, 2018, 10:18:51 PM They are probbly preparing to announce their own crypto to replace the debt laden Euro. :)
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: 1 currency now on February 18, 2018, 06:40:38 PM Good news for Bitcoins. If european central bank also lose hope in the fight of protecting cryptocurrency and ban it, then we are doom to see bitcoins come 100 USD price. If Asia is given up on crypto coins, Europe wont. Bitcoin will usually have a Country stating that they'll try to regulate Bitcoin but they know that they can't stop millions of people that fast.Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: countryfree on February 18, 2018, 06:56:47 PM If there are people surprised, it just shows that they aren't aware of what central banks do. They can only do what the law allows them to do, and there was no law on cryptocurrencies when they were created, so they can't do anything about it. It's not good or bad, it's just that it's not their job. A central bank has other business to take care of (controlling inflation, regulating the money supply, making sure banks are doing they job...).
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Wondervhel on February 18, 2018, 08:01:35 PM I'm not surprised. They can't stop cryptocurrency market growth and when we get to the critical mass, boom fiat market will be at least changed drastically.
People will always find the way to get into the crypto. It's funny, they built the whole fiat corrupt system for 100 years and we built entire new one, better one within just few years. Isn't that great. With development of the technology it is great to see people more independent. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: faatipoke on February 18, 2018, 08:04:19 PM that is correct what the ECB President said. Central banks do not regulate cryptocurrencies, governments and parliaments do regulate them. This is directly related to the law makers which means parliaments. I think regulation of cryptocurrencies will take a long time because things do not discussed and regulated in European Union. There are a lot of sub mechanisms and associations that will advise their opinions about the matter.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: Caesar-Giulius on February 18, 2018, 08:17:22 PM It is good to hear about this news. It clearly show that it was fuds that ECB want to regulate crypto.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: brickafterbrickwalldpt on February 18, 2018, 08:59:57 PM It is quite interesting statement. I must admit that I'm surprised. I thought that European Union would try to get rid of Bitcoin and other cryptocurrencies as fast as possible but as it turns out, they don't mind them. I guess it will change in the next few months due to banks and governments policy. Right now, some banks are against cryptocurrencies which leads to the termination of the contract with their clients who bought BTC or runs an exchange. What a shame.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: hatshepsut93 on February 18, 2018, 09:12:12 PM A few months Ukrainian Central Bank officials made a briefing when they've told that they don't want to regulate Bitcoin because they don't think that it's a currency, they said it's an asset or commodity so it's the job for market regulators. Maybe European Central Bank has the same feelings and they are afraid that if they will try to regulate it, it will be viewed as legitimizing it as a currency, which they don't want to happen.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: ylnar123 on February 18, 2018, 09:18:16 PM 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 it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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/ That statement is good to stop the misguidance and the fear of investors to invest in cryptocurrency. But for me, ECB should regulate the use of cryptocurrency for the legality of the people using it. To make cryptocurrency legal in a country there should be a regulated rules into which the entry and the outgoing transactions should be monitored to minimize the criminal access through the blockchain. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: coinlawyer on February 18, 2018, 09:38:24 PM 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 it’s going to regulate Bitcoins, (…) I have to say it’s not the ECB’s 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. benks Read More: https://zycrypto.com/european-central-bank-not-job-regulate-bitcoin-cryptocurrencies/ What I could say sonfidently, Mario Draghi is a wise man! How could bank, even central of the EU regulate BTC if they can`t ban it, can`t confiscate, reduce it or issue it) No one even knows how many BTC are burnt, by losing PK from wallets. Even governments of big countries alredy realize that they can`t regulate smth like BTC for many reasons! The only step they could regulate - is the taxation of the withdrawal transactions or transactions on the centralized exchanges, but it`s definitelly not the banks job. Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: sofi@ on February 18, 2018, 10:12:05 PM Actually even government couldn't find ways to regulate bitcoin, that's the reason why up to this point in time legality issue of bitcoin in most country is not clear, though they did not say bitcoin is illegal, still, they did not show support over it. Somehow in the near future if bitcoin will earn the trust of government maybe this issue will be fix but any central banks of different country has nothing to do with that like ECB says.
Title: Re: European Central Bank: It is not our job to Regulate Bitcoin Post by: elizavetausova0112 on March 09, 2018, 08:01:32 AM in order to start earning you need to study all the materials about the earnings on investments
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