Regulation of bitcoin and other cryptocurrencies is far from the priority of the European Central Bank (ECB).
Speaking to CNBC, Daniele Nouy, chief of the central bank’s supervisory board, said, “We are investigating the issue from a regulatory perspective. We will do something if it is deemed necessary, but it is not at the top of our to-do list at the moment.”
Nevertheless, Nouy said the ECB may need to keep an eye on cryptocurrencies as new risks emerge, such as futures Bitcoin futures contracts on US stock exchanges.
‘Limited desire’
Bitcoin has seen a huge drop in recent days, falling below $6,000 for the first time since mid-November. ECB President Mario Draghi said in his speech to the European Parliament on Monday that his bank is working on the potential financial risks of cryptocurrencies. The President also noted that European banks are showing “limited desire” for cryptocurrencies such as Bitcoin.