Skip to main content

Danish Central Banker Tempted to Ignore Cryptocurrency — Sees Real Threat in ‘Big Tech Invading Currency Area’

Danish Central Banker Tempted to Ignore Cryptocurrency — Says Real Threat Is 'Big Tech Invading Currency Area'

Denmark’s central bank governor Lars Rohde says that he can be tempted to ignore cryptocurrency, stating that it is not a threat to the central bank at present. However, he pointed out that the real threat could come from big technology companies “invading the currency area or the transaction means.”

Denmark’s Central Bank Governor Tempted to Ignore Cryptocurrency

Danish central bank governor Lars Rohde discussed cryptocurrencies on Bloomberg from Copenhagen on Wednesday. He was asked whether the central bank sees the rise in cryptocurrency trading as a serious economic threat. The governor was specifically asked if the central bank is taking the matter seriously or whether it largely continues to ignore cryptocurrency.

Governor Rohde replied:

I could be tempted to ignore it. I think the term currency is badly used here. Most currencies are stores of value or means of transactions.

He added, “There is no stability and no guarantee from any side about the value of cryptocurrencies so it is a very speculative asset at best.”

The governor was further asked whether he thinks that central banks in general will take action to try to reduce the rivalry from cryptocurrency. He affirmed: “At present, no I don’t think that is an issue.”

Rohde proceeded to share what he believes is much more interesting. The governor opined:

What’s more interesting is big tech invading the currency area or the transaction means. That could be very very interesting and maybe also a real threat to the autonomy and the independence of central banks.

Rohde has long been a bitcoin skeptic. In December 2017, he warned people to stay away from bitcoin, stating that “It is deadly.”

He noted at the time that cryptocurrency “is not a regulated market,” emphasizing that “It is not the responsibility of the authorities. It is the responsibility of the individual.” Rohde then told investors not to “come and complain to us if it goes wrong.” In addition, he said, “I see bitcoin as tulipmania, which is a bubble that is out of control.”

What do you think about the central banker’s comments on cryptocurrency? Let us know in the comments section below.



from Bitcoin News https://ift.tt/3fquvNu
Labels:

Comments

Post a Comment

Popular posts from this blog

Deep Web Roundup: Dream Adds Monero and Bitcoin Tumbler “Chip Mixer” Launches

The darknet has been quiet of late, which is the way it’s meant to be. No news means no mega busts, honeypots, or mass market shutdowns. Even when it’s out of the spotlight though, the deep web is quietly making news, whether trialling the latest privacy coins or the newest coin mixers that promise to restore a little of the privacy that’s being stripped away from bitcoin users on a daily basis. Also read: U.S. Agency ICE Conducts Investigations That Exploit Blockchain Activity The Battle for Privacy Heats Up Privacy is all relative, but of late there’s been relatively little privacy to be enjoyed by bitcoin users. Blockchain monitoring software is becoming more sophisticated and more common, with U.S. law enforcement agencies using it to profile and hunt down deep web users. Chip Mixer is a relatively new bitcoin tumbler that’s designed to restore some of that privacy. Available on both the clearnet and darknet, the service uses a variety of techniques to obfuscate blockchain m
10 comments
Read more

Ombudsman Receives Complaints About Crypto Investments in Spain

The Spanish ombudsman has been receiving complaints about cryptocurrency and how some Spanish citizens investing in these vehicles have lost everything. In his annual report, Angel Gabilondo recognized the rise of cryptocurrencies as a new problem due to the little or no regulation crypto sees in the country. In the same way, the EU has also warned about these assets recently. Spanish Ombudsman Gives His Take on Crypto Angel Gabilondo, the Spanish ombudsman, has given his take regarding cryptocurrencies and the effects they have on citizens investing in some of these projects. Gabilondo said in his yearly report that cryptocurrencies have become “a new problem” during the year examined, with many people having lost all of their funds invested. The report states : Cryptocurrency exchange companies or platforms are not regulated in the legal system, are not subject to any public supervision system, nor do they benefit from deposit guarantee systems. The affected users that sought
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli
Post a Comment
Read more