EU Central Bank: Europe Should Not Promote Digital Currencies Such As Bitcoin
In a legal opinion recently published by the European Central Bank (ECB), the Union’s apex bank has outlined some of the reasons it thinks the European Union members should not promote the use of digital currencies. Though the ECB recognises that the technological advances relating to the distributed ledger technology underlying alternative means of payment, such as virtual currencies, may have the potential to increase the efficiency, reach and choice of payment and transfer methods, it warned: “...the Union legislative bodies should take care not to appear to promote the use of privately....
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