ECB says bitcoin is on ‘road to irrelevance’ amid crypto collapse
by Alex Hern UK technology editor from Technology | The Guardian on (#66BPZ)
European Bank criticises digital currency sector for facilitating illegal activity
The European Central Bank says bitcoin is on an artificially induced last gasp before the road to irrelevance", in a scathing intervention arguing against giving regulatory legitimacy to the cryptocurrency.
In a strongly worded blogpost, senior European Central Bank (ECB) staffers Ulrich Bindseil and Jurgen Schaaf criticised bitcoin for being a hotbed of illegal transactions that brings reputational risk for any bank that gets involved with the sector.
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