The European Parliament Says Digital Currencies Can Be Used as Money

[Netrat16]

I think it’s a very good news for us. As European parliament accept this digital currency so many people now try to use it instead of euro. It’s a positive news for me.

[Mest bowl]

European Union do not cleare their comment abou crypto currency. Crypto currency are more increasable currency and more useable. I think it will be use as an alternative money. thank you

[CoinEraser]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

This statement will certainly not change the world, but nevertheless it is a positive signal for crypto. Europe seems to be very open to crypto and they see the blockchain as a tool of the future. I like that and I hope it stays that way. 

[cryptojohnn7]

If they really do this then it will be a great achievement for cryptocurrency. I think cryptocurrency really deserves this. It provides more facilities so we should accept it asap.

[Kris34]

Say they can a lot. The main thing to do. Say what you want to use money will solve this situation.

[audaciousbeing]

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

So..its just words.

Its not just words. At this time of serious uncertainty, every positive should be seen as victory in the crypto world no matter how small or inconsequential it might be. A lot of things adopted today, started as mere words and today, its now part of our existence. A body like that not giving an outright negative statement is worthy to be happy about.

[nickmiller]

The Europian Parliament declared their opinion that cryptocurrency can be used as an alternative of money. Their detailed review of the report shows that how much impact crypto currencies have on the global economy.

[joellogan]

Virtual currencies are quicky getting their importance and demand. In my opinion, European parliament declaration is the prove of that. It was done to analyze the impact that crypto currencies can have on todays economy.

[kellyscott]

with this statement they actually meant that cryptocurrency can be used as altarnetive of money,  if it is approved by the parliament that is mean it is not illegal there anymore so it is definitely a very wonderful and progressive move , soon it will be illgalize all over the world.

[USDOLLAR]

From my point of view it is a very strong and positive attitude shows by the European Parliament.Today they have open the great way may be possible as early they will make laws. Its effect goes surely on other countries, they will also trying to adopt crypto currency as a legal in his country. Crypto world will be very happy to hear digital currency can be used as money says the European Parliament.

[stompix]

It means nothing...

It does mean something because maintaining such stand has given hope of holding or investing to someone within the EU region that is in a fix on what to do concerning his new found love. I don't have the statistics to support that but it's right to make such conjecture. Imagine if the India parliament should make such statement, it would really go a long way.

This is what I've been trying to tell people here but it seems I'm just speaking to the walls
The EU parliament is nothing like the parliament in India, Germany or Somalia.

It has very limited powers, and it has absolutely zero power when it comes to financial matters of the member countries.
There have been thousands of discussions, projects of laws and more which have been a waste of time, even a full majority of the parliament can't issue a law that would intrude on the financial regulations of a member country.

As I said before, the 3% deficit is a perfect example of this, it was of course ratified by the all the members in the Stability and Growth Pact, but for it to be put in motion once breached by a country requires a full majority vote of the Council of Ministers, in which ..guess what, even the country that is going to be sanctioned has a veto right!!! 

And you can see for yourself in the news why this statement means nothing..
It had no effect on the price, nobody but the blogs covering crypto talk about, silence.

Nothing will come from the EU parliament apart from words, everything must come first from the member states.

[Ridwan Fauzi]

Now we need for some changes cause only words cannot make any difference on our market, there should be some moves which will make the prices go up or which will "tell" to new investors that those projects are not scam and they could put some money in them.

Many people and even more economists who say bitcoin is a fraud, but with this news will make and dismiss the economic experts' predictions about fraud in cryptocurrency/digital currency/bitcoin.

If this news continues to spread and again many media write similar things, cryptocurrency will easily change the market drastically. Look at what has happened, a price increase of $ 1000 in one hour and a $ 1000 increase in one day, this is a proof for you.

[Flor1982]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

I think some of the European countries are already using digital currency like Bitcoin as their local money. Germany and France are the top of them in which Bitcoin can be directly use to establishments that accepting Bitcoin as payment option. Therefore it is not impossible for the whole EU that they will use Bitcoin as paper money next to Euro currency  and if this will happen then for sure Bitcoin price will become more stable and strong.

[Bharat24]

The step of European parliament is provid that digital currencies getting their importance & demand in the crypto market. Effect goes on other country will same. So more & more currency will use digital currency as a money.

[SnowAugustine]

It means nothing...

“Digital currencies, also known as ‘virtual currencies’ or ‘cryptocurrencies’ can be defined as ‘a digital representation of value, not issued by a central bank, credit institution or e-money institution, which in some circumstances can be used as an alternative to money.”

They've also added this:

“The arrival of permissioned cryptocurrencies promoted by banks, even by central banks, will reshape the current competition level in the inter-cryptocurrency market, broadening the number of competitors. ”

In summary, they say cryptos "can" be used as an alternative to money.
But the European Parlament, unfortunately, has no jurisdiction over this matter in the EU, they can't force a country to accept any other method of payment than the euro or their national currency.
It's up to the parliaments of the EU members to vote this for their internal legislation.

So..its just words.

The European Parliament is just a bunch of old guys in suits sitting around and blowing fluff all over the place. They have no jurisdiction anywhere in the EU, ironically. That's why the EU is doomed to fail. You cannot have a monetary union with autonomous states. The states have no power over their economies this way.

It could be a way to cover their asses maybe. Just to say that legally, they recognize it as a form of money, so other countries are free to tax their people all they want. Or it could be a signal of adoption, showing a move towards bringing a similar type of digital currency into their monetary union.

[jasydoggye]

It's good that they are now accepting promising things for their betterment. I think other countries should also take decisions on accepting crypto currency.

[cryptolovers990]

This was just a mere statement passed. It has not hit the course yet. But if it does, then it will help a lot of people who have crypto in their possession and may fix the rich poor gap.

[cryptoking252]

There is a still a long way for EU parliament to fully accept digital currencies as the way it is right now. Without the acceptance of majority of the members of the parliament they cannot still take decisions in favor of Bitcoin. But, definitely in the future it is possible as a lot of European countries are trying to adopt to cryptos right now.

[theyoungmillionaire007]

If I haven't misunderstood then European Parliament is just accepting the fact that cryptocurrencies have a future though they haven't made a decision regarding this. To come to a decision to legalize cryptos among all European countries, the members of the parliament need to step up. But, their seems to be a lot of possibilities for it to happen in the future.

[Zohina]

Hi guys
What does this news mean?

https://usethebitcoin.com/the-european-parliament-says-digital-currencies-can-be-used-as-money/

Wait for your responses

is this news true? if the world really is entering the digital era. It is marked by the use of cryptocurrency as a direct payment tool and can be an option to use conventional or bitcoin currencies. but it seems that it cannot be applied in third world countries, because the effect can be very dangerous, first it can become a means of money laundering of corruptors, secondly it can be a tool of terrorism funding and most importantly developing countries still cannot control or detect the movement of money, because the management system the finances are still limited, but it seems that it is not valid in developed countries such as in Europe or in America. Developed countries should participate in participating in supporting the advancement of global financial management technology.