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The central bank of the EU: digital currencies can not replace real money

 

According to Vice-President of the European Bank Vitor Konstancio, digital monetary units can not replace and displace traditional currency from circulation. They can only perform an auxiliary role. He is sure that the crypto-currencies are only a tool of financial speculation, but they are not money.


 

Perhaps such a statement of Constantio is due to the recent rise in prices of crypto-currencies and a large rise in the level of capitalization of their market. In the light of these price jumps, the attention of the Central Banks of various countries attracts the crypto-currencies more and more.

In turn, in the summer of this year, the head of the department Mario Draghi said that the merge of the sphere of crypto-currencies and the real sector of the economy is not worth talking seriously. From his words. Crypto-currencies are still young and not serious enough to seriously consider the need for their financial regulation. However, according to Konstancio, the need for this has already arisen and, in order to avoid the risks that crypto currencies can bear, this issue should be considered now.


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