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Title: 2013-12-13 Financial Times - EU Banking Authority warning Post by: bitone on December 13, 2013, 11:05:44 AM European watchdog’s warning throws cold water on Bitcoin fever
Updated: http://www.eba.europa.eu/-/eba-warns-consumers-on-virtual-currencies (http://www.eba.europa.eu/-/eba-warns-consumers-on-virtual-currencies) Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: Puppet on December 13, 2013, 11:07:39 AM A link that doesnt require signing up:
http://www.eba.europa.eu/-/eba-warns-consumers-on-virtual-currencies Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: marcus_of_augustus on December 13, 2013, 11:34:15 AM Quote The EBA said that consumers are not protected through regulation when using virtual currencies as a means of payment and may be at risk of losing their money. It also added that there is no guarantee that currency values remain stable So just like real currencies and banks then .... :-* Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: Buffer Overflow on December 13, 2013, 11:55:29 AM Quote The EBA said that consumers are not protected through regulation when using virtual currencies as a means of payment and may be at risk of losing their money. Bitcoin has protection against bank bail-ins (stealing). Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: Carlton Banks on December 13, 2013, 03:43:08 PM Quote The EBA said that consumers are not protected through regulation when using virtual currencies as a means of payment and may be at risk of losing their money. It also added that there is no guarantee that currency values remain stable So just like real currencies and banks then .... :-* It's curious how they left out the part where they say "and, and, and you don't get any interest on your money in a bitcoin bank!" Surely that would be a real killer blow to bitcoin, eh? :D ;) Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: cr1776 on December 13, 2013, 06:10:57 PM Quote The EBA said that consumers are not protected through regulation when using virtual currencies as a means of payment and may be at risk of losing their money. It also added that there is no guarantee that currency values remain stable So just like real currencies and banks then .... :-* Actually with "real currencies" you are guaranteed that the value will not remain stable, you are guaranteed that you will lose value in the form of purchasing power every year. Funny </sarcasm> that they don't point that out! :-) Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: bitbouillion on December 13, 2013, 06:37:50 PM EBA = European Banking Authority
To me it looks like more a bankster lobby organization. Regulator Leaves Loophole for Some Bankers to Avoid E.U. Bonus Caps http://dealbook.nytimes.com/2013/12/13/regulator-leaves-loophole-for-some-banks-to-avoid-e-u-bonus-caps/ Why they do not warn against themselves? Banks have ruined enough people in Europe - that's a hard fact. Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: HeliKopterBen on December 13, 2013, 06:51:57 PM Fiat currencies will remain stable... until they become unstable.
Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: laowai80 on December 13, 2013, 07:46:02 PM It's curious how they left out the part where they say "and, and, and you don't get any interest on your money in a bitcoin bank!" Surely that would be a real killer blow to bitcoin, eh? :D ;) It's an ace in their sleeve, lol Title: Re: 2013-12-13 Financial Times - EU Banking Authority warning Post by: TraderTimm on December 14, 2013, 05:41:49 PM Out of an abundance of caution, I'd recommend not maintaining any balances on EU Bitcoin exchanges, if you can help it. The sad fact is, they're not very far from a resurgence of the problems they thought they had "solved" with Greece, and there are a lot of other countries closer to the brink than ever before. It only takes one domino to make it fall, and the first thing that gets nailed is banking relationships, as they circle the wagons and try to remain capitalized.
I wouldn't put it past them to just freeze EU Bitcoin Exchanges accounts, or outright confiscate them. This is always a risk in general with anything that interfaces with the legacy financial system, but in this particular case, I see it coming to a head sooner rather than later. Just watch out, is all... |