The
European Union commission plans to hold a meeting with public and private sector officials to discuss the impact of cryptocurrencies on central banks.
Tuesday Valdis Dombrovskis, Vice President of Euro and Social Dialogue, in his speech at the press conference for Economy and Financial Affairs Council (ECOFIN) , said he plans to discuss the issue with a group that should be officially named, and with officials from the private sector.. The words of Dombrovskis are as follows:
“Cryptocurrencies can cause havoc for many other areas, including central banks. Therefore, I intend to bring together authorities and the private sector shortly to evaluate long-term plans that go beyond current market trends”
Several countries, United Kingdom, India and Canada.
However, the potential involvement of central banks in cryptocurrencies has been met with mixed reactions.. While some predict that central banks will buy cryptocurrencies to protect their foreign reserves, others argue that they are uncomfortable with central banks going beyond self-regulatory actions.
With such debates appearing where it will take effect, Dombrovskis‘s role in EU structural reform and financial market regulation shows that these talks can lead to further regulatory action.
Dombrovskis during a press conference He reiterated his interest in EU‘s adoption of Blockchain technology, as well as a willingness to take a more aggressive regulatory approach to cryptocurrency trading to curb illegal behavior.
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