The ECB is taking cryptocurrencies seriously.

[Don Pedro Dinero]

Yves Mersch has stated that cryptos will never be currencies but he warns against risks.

The supervisor will be very tough on banks operating with cryptos.

He wants banks to segregate any virtual currency business.

Banks should ring-fence any business they do with virtual currency (VC) such as Bitcoin and post “adequate” amounts of capital against it, a European Central Bank board member said on Monday.

Yves Mersch said cryptocurrencies, online tokens issued by private companies with the help of users, do not qualify as money and called for regulating their issuers, exchanges and any bank or clearing house dealing in them.

More info: https://www.reuters.com/article/us-ecb-policy-bitcoin/ecb-wants-banks-to-segregate-any-virtual-currency-business-idUSKCN1IF168

Some info also taken from (http://www.eleconomista.es/economia/noticias/9136571/05/18/El-BCE-teme-un-colapso-a-lo-subprime-por-las-criptodivisas-y-pide-a-los-bancos-medidas-cortafuegos.html)

What do you think about?

[posi]

Well, I'm not too surprise about what the ECB said about crypto currency because they have been so hard on virtual currency since all year and they were the first to rise the issue of regulation. Let's keep our fingers cross cause they going to stop soon.

[yoseph]

Well, I'm not too surprise about what the ECB said about crypto currency because they have been so hard on virtual currency since all year and they were the first to rise the issue of regulation. Let's keep our fingers cross cause they going to stop soon.

Regulation will be a good thing for cryptos because nowadays almost anyone can start issuing their own coins and tokens and expect it to be used by people.