Bitcoin ‘of great concern,’ Ireland’s central bank official warns
Cryptocurrency investors should be ready to lose all their holdings, according to Ireland’s central bank financial conduct director. Ireland’s central bank director general for financial conduct is the latest official to point out issues of Bitcoin (BTC) and the cryptocurrency industry following a major market sell-off.The growing popularity of cryptocurrencies like Bitcoin is “of great concern,” the Central Bank of Ireland’s Derville Rowland warned, Bloomberg reports Monday.“Crypto assets are quite a speculative, unregulated investment,” and investors should be “really aware they could....
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Another financial authority is coming forth in what is becoming a long list of central banks to issue warnings on the use of the bitcoin digital currency. This time around it's the Deutsche Bundesbank, which as previously mentioned, is the central bank of the Federal Republic of Germany. Carl-Ludwig Thiele, one of the bank's board members, warns that bitcoin is highly speculative and extremely volatile. Both are sentiments that have been echoed by other central banks who have already issued warnings. Thiele reportedly says bitcoin is a "niche phenomenon", despite its explosion into the....
Qatar Central Bank is presently examining the possibility of issuing a digital currency as well as digital bank licensing, an official has said. The official adds this study will help the central bank get an understanding of what its area of focus should be.
The Growing Significance of CBDC
An official with the Qatar Central Bank (QCB) has said the institution is presently studying digital bank licensing as well as digital currencies. The official, Alanood Abdullah Al Muftah, the head of the bank’s fintech division, adds the study will enable the QCB to gain a better....
The Central Bank of Sri Lanka has published a warning notice about the risks associated with cryptocurrency as interest and trading volumes of bitcoin and other cryptocurrencies surge locally and globally. Sri Lanka’s Central Bank Warns About Bitcoin The Central Bank of Sri Lanka has published a notice regarding cryptocurrency. “Considering the recent inquiries on virtual currency usage in the international and domestic markets, the Central Bank of Sri Lanka (CBSL) wishes to inform the public of the risks associated with investing in virtual currencies,” the notice....
The central bank warned people to be mindful of "the risks of misleading advertisements, particularly on social media, where influencers are being paid to advertise crypto assets." The Central Bank of Ireland issued a warning to consumers about the risks around crypto investments in addition to “misleading” advertisements, including those pushed by influencers on social media.In a Tuesday notice, Ireland’s central bank said the warning was part of a campaign organized by the European Supervisory Authorities, made up of the European Securities and Markets Authority, the European Banking....
Bank of Thailand says a growing number of companies are asking for payments in cryptocurrencies, such as bitcoin and ether. The central bank reiterates its stance on crypto and warns of the risks of using them as a means of payment. The Bank of Thailand (BOT), the country’s central bank, issued a warning notice titled “Caution on Using Digital Assets as Means of Payment for Goods and Services” on Thursday. The notice explains that some enterprises have recently begun soliciting payments for goods and services in cryptocurrencies, naming bitcoin (BTC) and ether (ETH) as....