Board member of the Bundesbank: the Eurozone will not be a cryptocurrency

Board member of the Bundesbank: the Eurozone will not be a cryptocurrency

Carl-Ludwig Thiele, Board member of the Bundesbank, one of the largest banks of Europe, confirmed that the Euro zone is not considering the introduction of digital currency.

Digital money issued by Central banks, similar to cash, in the near future is not expected.

However, this statement contradicts the statement made by the head of the Bundesbank Jens Weidmann in which he suggested that a digital currency similar to bitcoin, has the potential to protect the citizens of Europe.

Thiele also warned investors about serious risks in working with cryptocurrencies:

We are seeing a rapid increase in value, and this means that there is a serious risk of rapid loss.

The European Central Bank has proposed to regulate digital currencies such as bitcoin, despite earlier statements that governments do not have working mechanisms to regulate bitcoins.

Despite the rejection of the idea of crypto-currencies in the Eurozone, other countries are still considering options for creating a national cryptocurrency. In particular, Russia and Dubai have begun work on a national digital currency.

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