Governor of Bank of Spain: Crypto Markets Are ‘Bigger Than Subprime Mortgages...
Pablo Hernandez de Cos, governor of the Bank of Spain, has again warned about cryptocurrencies and the growth that the crypto market is experiencing. Hernandes de Cos stated that, while the market is still relatively small at a worldwide level, the cryptocurrency market is now bigger than subprime mortgages before the financial crisis circa 2008, and its links with traditional finance keep growing. Governor of Bank of Spain Warns About Expansion of Crypto The governor of the Bank of Spain has warned about the risks of letting the growing cryptocurrency markets mix with....
Related News
Pablo Hernández de Cos, governor of the Bank of Spain and chair of the Basel Committee on Banking Supervision, explained that the cryptocurrency space and decentralized finance (defi) need to be regulated swiftly to avoid risks of financial instability. Hernandez de Cos also mentioned how this swift approach should bring the crypto financial system into the scope of regulation before it grows bigger.
Governor of Bank of Spain Talks Crypto Regulation
The governor of the Bank of Spain, Pablo Hernández de Cos, who is also part of the banking supervision Basel Committee,....
The Governor of the Bank of Spain has alerted the public about the risks mixing traditional banks with crypto assets might bring to the economic system. Pablo Hernández de Cos stated that the direct or indirect exposure to these assets would increase the risks associated with the financial institutions. De Cos also stated that while this exposure is still low, it is constantly going up due to the integration of crypto services within these platforms.
Governor of Bank of Spain Notes Risks Associated With Banks Integrating Crypto Services
The Governor of the Bank of Spain,....
A new proposal of a digital transformation law, written by a group of lawmakers in Spain would introduce the possibility of paying mortgages with cryptocurrency. The law draft also gives different incentives for companies and organizations using and developing solutions using these technologies, including tax cuts. Banks are also included in the regulation, and the draft includes the use of smart contracts for managing some processes in these organizations. Spain Would Include Crypto in Its Mortgage System A new draft of a digital transformation law, presented by a group of lawmakers from....
The deputy governor of the Bank of Spain, Margarita Delgado, gave her opinion about cryptocurrencies and how they are increasing the risks in today’s economy. At an event hosted by PWC called “A climate of change,” Delgado explained that the continued and extended use of cryptocurrencies might bring different kinds of risks to the 12% of the population currently holding crypto.
Deputy Governor of Bank of Spain Examines Crypto Risks
The deputy governor of the Bank of Spain, Margarita Delgado, has issued her opinion about the use of cryptocurrencies and how....
Nobel Prize-winning economist Paul Krugman has compared the current state of cryptocurrency to the housing bubble and the subprime mortgage crisis. Noting that crypto lacks any real value, he said: “it is a house built not on sand, but on nothing at all.”
Paul Krugman on Crypto, Housing Bubble, and Subprime Mortgage Crash
Nobel laureate Paul Krugman discussed the current state of cryptocurrency in an opinion piece published in the New York Times Monday.
Krugman won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in 2008....