Mario Draghi, President of the European Central Bank (ECB), is equating many central banks and regulators, commenting on regulatory measures on cryptic practices. However, he obviously pursues a slightly different approach from his colleges.
Around the world, the market for cryptic growth is growing steadily, which is not unnoticed by the individual states and their governmental institutions. Thus, in the last month, efforts have been made by the central banks or regulatory authorities of many countries to curb and control the hitherto unregulated crypto market. In addition to the US Financial Market Supervision SEC, the authorities in South Korea, the People’s Republic of China, Canada and the United Kingdom, among other things, had issued announcements in which it was announced to intervene regulatively.
Mario Draghi, President of the European Central Bank (ECB), the most important financial institution in the Eurozone, said in his introductory speech to the European Economic and Monetary Affairs Committee (ECON) that he did not provide a basis for concrete handling of bitcoin and other cryptic diseases since “it is not really in our power” to regulate it or even to prohibit it altogether.
In addition, Draghi stated that the ECB had not yet fully discussed the exact potential of cryptoscrip- tions, but – like most other regulatory institutions – was fully aware of the opportunities and risks posed by the increased investment of the population in cryptic diseases , The issue of cyber security is the top priority for the ECB.
The ECB had previously expressed its opinion on a number of opportunities for cryptosis and on the application of Distributed Ledger Technology. So Mario Draghi himself had only a few weeks ago to the attempt of Estonia to set up their own national digital currency on the legs. He said that no member state of the Eurozone could introduce its own currency and thus included state-issued and controlled digital currencies. The only valid currency in the euro zone should always remain the euro.
The ECB, together with the Bank of Japan, had also tested the implementation of the DLT as a future payment processing system, but it was considered too unstable to replace the current real-time gross settlement system.
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