Yves Mersch: Convergence of Bitcoin and Financial Market ...

ECB's Nowotny: Bitcoin unstable, too vulnerable to speculation

This is the best tl;dr I could make, original reduced by 51%. (I'm a bot)
VIENNA - European Central Bank governing council member Ewald Nowotny warned against accepting bitcoin as an official payment method, saying the digital currency lacked stability and was too vulnerable to speculation.
Many governments around the world are considering how to regulate and classify bitcoin BTC=BTSP, whose value surged in June to hit a record just shy of $3,000.
In April, the Japanese government recognized bitcoin as legal tender as part of efforts to use financial technology to stimulating the economy.
Bitcoin has fallen 20 percent since its record high in June but is still 245 percent over the past year.
Bitcoin can be traded on exchanges in the same manner as stocks and bonds.
The ECB is doing "Experimental work" with the same ledger technology that underpins bitcoin but it needs further research before considering adopting it, ECB executive board member Yves Mersch said in April.
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IronFX Daily Commentary by Peter Iosif  19/02/2018 - YouTube CryptoKitties Takes Over Ethereum

Yves Mersch is worried that bitcoin may threaten financial stability as “market infrastructures such as stock exchanges enter this business.” The ex-governor of the Luxembourg Central Bank, Yves Mersch, serves as a member of the executive board of the European Central Bank (ECB). In a recent interview with German newspaper Börsen-Zeitung, Mersch discussed the dramatic […] European Central Bank (ECB) executive board member Yves Mersch has said bitcoin poses a threat to economic stability if financial infrastructure institutions get involved with the cryptocurrency. In an interview with a German daily Börsen-Zeitung, Mersch said that bitcoin’s trading volume is currently “comparatively low” and is therefore not an issue for monetary policy at present. Mit ihren Bitcoin-Futures schlagen die US-Derivatebörsen CBOE und CME ein neues Kapitel in der noch jungen Geschichte der Internet-Währungen auf. 07.12.2017 Yves Mersch is concerned about the possibility that Bitcoin may threaten financial stability as “market infrastructures such as stock exchanges enter this business.” Luxembourg Central Bank ex-governor Yves Mersch serves as a member of the European Central Bank ’s (ECB) executive board. According to Reuters ‘ report dated May 14, ECB board member Yves Mersch stressed that banks must “segregate” their commercial transactions with crypto money from other transactions. Mersch stated that the tokens could not be “seen as money” because the crypto market had too much ambiguity, and that those who used it, as well as traders, banks, stock exchanges and intermediary ...

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IronFX Daily Commentary by Peter Iosif 19/02/2018 - YouTube

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