ECB classified Bitcoin, Ethereum, Bitcoin, Cash and XRP as a useful asset
Home News ECB classified Bitcoin, Ethereum, Bitcoin, Cash and XRP as a useful asset
Marcel Knobloch –
Not all of the Central banks of the world are of the same opinion when it comes to the topic of crypto-currencies. The European Central Bank Bitcoin, described most recently as a highly speculative and risky form of investment, which has no state protection. In a new document, the waves seem to smooth out and the ECB is proposing a conciliatory course.
The European Central Bank, the monetary policy of the Eurozone is managed, has recently published a report with the title “crypto-Assets: implications for financial stability, monetary policy and the payment and market infrastructures”. The 40-page report deals with the impact of numerous crypto-currencies on the financial stability in Europe, the structures of monetary policy, the payments and the current Martkstr. The ECB recognized Bitcoin as the main Asset and and a closer look in addition, three other Kryptos: Etheruem (ETH), XRP and Bitcoin, Cash (BCH) which are to be classified for current use in the world, in your opinion, as relevant (freely translated):
Bitcoin continues to be a leader in terms of market capitalization, and user base and popularity. There are approximately 1,900 Crypto-Assets (Stand: 7. April 2013). Bitcoin Cash is in addition to Bitcoin, Ether, Ripple as the most important [digital Asset], in terms of usage, market capitalization, or diversity of business models.
The ECB erkkent Crypto is not currency as actual currency, and referred to you in a simple and way as a “crypto-currencies” that can be purchased in the markets and sold. The report States (freely translated):
A new type of assets, which are recorded in digital Form and through the use of cryptography allows and no financial claim or liability of an identifiable company.
Crypto-Assets continue to represent a relatively small asset class with a market capitalisation of around USD 250 billion. The ECB clearly comes to the conclusion that crypto-currencies pose no threat to the financial system. This Information is not new and was already part of the past reports (freely translated):
The ICA-TF analysis shows that crypto-assets are currently not an immediate threat to the financial stability of the Euro area. Their combined value is in relation to the financial system is low, and their Connections to the financial sector are still limited.
The ECB distinguishes between the Blockchain and Crypto-Assets, and believes that the Blockchain technology can also be used without crypto-currencies implemented. The Bank, however, takes a very neutral stance and reiterated that the entire Euro area should be monitored, as the market could rise to capitalisation of this asset class and the involvement of the traditional financial system systematically (freely translated):
The sector, nevertheless, requires continuous careful Monitoring, because the market trends are dynamic, and the links with the financial sector will increase in the future, possibly to a higher level.
Overall, the ECB currently sees no need for further action to regulate the market excessively or take any other action that could adversely affect the growth of Bitcoin and co., or in a wrong direction. Accordingly, the result is a view of this current report, from the point of view of bitcoin supporters as a positive. However, many experts in the industry describe that a clear Reguliereung in the United States could provide clarity among institutional investors and thus the market for new capital would open up. If and when any regulation is to come into the United States, however, remains for the time being, to be seen.
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