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Author Topic: Cryptocurrencies Pose Risks to Banks, Warns Basel Committee  (Read 590 times)
bitbunnny
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October 20, 2019, 09:44:53 PM
 #61

At the same time, the European Central Bank announced the results of its research, in which it acknowledged that the cryptocurrency does not have any serious impact on the global financial system. It is not only about negative influence, but about any influence in general. This only indicates from which side they approach the consideration of this question and that these are rather subjective opinions. Cryptocurrency is still too short to conclude whether it will have a significant impact on the international financial system.

Exactly, it's about approach. I think that things are shown out of context. I wouldn't say that cryptocurrencies itself pose a risk to banks but unregulated cryptocurrencies without defined legal framework pose a risk.
On the other way it's true that cryptocurrencies in current forn don't represent a risk or impact to global financial system because formaly they are not a part of it.
Banks are also aware that cryptocurrencies are here to stay but they are also trying to find the way for cryptocurrencies to be part of financial and economy system without negative impact and properly regulated.

Afnan_faizah
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October 20, 2019, 10:10:44 PM
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Since many people prefer to do transaction using cryptocurrency, bank profit from money transfer fees is continue to drecrease. This is the failure of bank, bank can not provide fast and low fees of money tranfer. Bank should provide service that can satisfy customers, if bank can not do it then bank will not survive in this busines world.

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