EU Report Says Cryptocurrencies 'Unlikely' to Challenge Central Banks

[NileCoin ICO]

Cryptocurrencies will not challenge the economic power of central banks, the European Parliament said last week.

In the latest Monetary Dialogue report issued on June 26, the European Parliament's Committee on Economic and Monetary Affairs said that while cryptocurrencies have made financial transactions "relatively safe, transparent, and fast," they pose no threat to sovereign currencies around the world.
https://www.coindesk.com/eu-report-says-cryptocurrencies-unlikely-to-challenge-central-banks/

NIL
NilecoinTeam

[HeraldoCrypto]

I think that's just banker language for "We're starting to feel threatened."

[bartolo]

It's clear that at this moment cryptos are not a threat to them and will hardly be in the future, but that is not their mission either. I think the report is quite interesting, especially when it comes to defining cryptocurrencies and the role they can play in the future.

[waorana]

I am pleased to read this statement by the European Commission for Economic and Monetary Affairs, cryptocurrencies are the evolution of coins circulating in the various countries of the world. I hope that soon there will be a regulation because it is of fundamental importance to allow the diffusion and the development of this new sector

[tsaroz]

Though a consolidating news for cryptocoins price at the moment, this is not true.
Cryptocurrencies are in their way to pose a challenge the economic of banks and ultimately to the central bank.
It would replace fiat in all forms of trade and day to day transactions.

[boakyei]

There is no threat the cryptocurrency poses to banks . It is out of bitterness that some people don't want to see the cryptocurrrency growth.Gold and diamond has not been a threat to traditional banking system so how will crypto be.

[samiraetn]

This is really interesting news. Plainly as of now cryptos are not a risk to them and will barely be later on, however that isn't their main goal either. I think the report is very fascinating, particularly with regards to characterizing cryptographic forms of money and the part they can play later on. This will help the market to earn more popularity.

[PhantasmRisk]

Central Bank will always be the kink of banks. Nothing can beat it. SO, there's nothing to get threatened by Crypto to central bank

[Brianlee0112]

As the cryptocurrency market is unstable right now, they are saying this so easily. But back when the cryptocurrency market was rising with a bullish trend, the Central Bank were very much threatened. Let's see what happens.

[JustinBrenda]

As the whole system of the crypto currency is decentralized there is bo chance of harassing the central banks of a country.

[Kmoris]

For this reason many countries are banned this currency. But i think this concept is not current that’s why i believe this market will change the global economy in a positive way. I hope in near future all countries are accept this market.

[Transformbitz]

Central Bank will always be the kink of banks. Nothing can beat it. SO, there's nothing to get threatened by Crypto to central bank

That's going to happen and I read some article that Deutsche bank will fall down maybe later this year or probably next year. We don't know yet but i'm sure bitcoin dominance will be aggressive or jump too high this year. We have more money to produce in the future.

[ZeidFreak]

As the whole system of the crypto currency is decentralized there is bo chance of harassing the central banks of a country.

I think cryptocurrency is the future and it will take over the banking system. Blockchain is the real gold in this industry and no one will challenge the technology of it's transparency,scability and traceability.

[poodle63]

Cryptocurrencies will not challenge the economic power of central banks, the European Parliament said last week.

In the latest Monetary Dialogue report issued on June 26, the European Parliament's Committee on Economic and Monetary Affairs said that while cryptocurrencies have made financial transactions "relatively safe, transparent, and fast," they pose no threat to sovereign currencies around the world.
https://www.coindesk.com/eu-report-says-cryptocurrencies-unlikely-to-challenge-central-banks/

NIL
NilecoinTeam

Basically, crypto is aiming to be the next future digital payment system and tokenization of the assets. Have you seen that? It can reduce the operational cost through use the blockchain system.
It will not aim to replace the fiat money right now. It will become the future of our digital payment system.

[marvtridon]

When you get yourself attached to something for too long you tend to start acting like them. The reason why Crypto feel down since January was because of the influence of transferred or broadcast information.

They thought they were doing good rather it was the fud which was created they were helping spread.

Crypto has been a threat to banks and several centralized entities. Just imagine if the US dollars was used to fund the Russian hack on the US election if they would give it a bad name. But since it's bitcoin,  it's the bad guy.