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ECB Banker: Bitcoin is "an evil disorder of the financial crisis"



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French member of ECB Benoit Coeure (Photo: dpa)

French member of ECB Benoit Coeure (Photo: dpa)

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Executive Board of the ECB: Bitcoin is "an evil disorder of the financial crisis"

Benoit Cœure, who serves the European Central Bank, praised Bitcoin's leading crypto-currency as "an extremely smart idea." He said this in a statement organized by the Bank for International Settlements (BIS) in Basel this week.

Benoit Cœure, chairman of the BIS Payment and Market Infrastructure Committee, devoted a long part of his speech on crypto currency technology and how it can be used by central banks in their cash flows.

The alias Satoshi Nakamoto announced the bitkoin during a major financial crisis and even recorded the title of the British rescuers in the Genesis Blockchain Block. "In more than one way, the bitkoin is the nausea of ​​the financial crisis," said Chure.

Still: "Perhaps the lightning strikes me when I say it in the Basel Tower, but Bitkoin was a very smart idea. Unfortunately, every smart idea is not a good idea." The possibilities of Blockchain are varied, but the problems of Bitkoin are numerous, I believe Agustin Karstens well summed up his multiple problems by saying that battle is a combination of bubbles, ponies and ecological disasters: "

A French economist said more than two-thirds of central banks are investigating the use of Distributed Booklet Technology (DLT) to create digital central banks (CBDCs) for cross-border payment services. However, it is unlikely that the central bank will issue a digital currency in the next decade.

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Poles pay a 19% tax on income from crypto transactions

  • The Polish government recently submitted amendments to the profit tax law by President Andrzej Duda.
  • This attempt to account for an existing civil law enforcement tax law (PCC) has provoked angry reactions and the government has postponed that move until a lasting and comprehensive solution is established.
  • A 19% tax rate applies if digital assets are exchanged for another payment instrument, good, service or property other than a virtual currency, according to the draft.

Nvidia K3 results show a drop in sales in minerals

  • Nvidia's third-quarter earnings report (K3) shows that the need for Nvidia's graphics processors fell on the side of the cryptom.
  • Criptocurrents spiral prices on Nvidia's playing cards, but as demand is eased, prices did not fall fast enough to attract customers waiting for more affordable cards.
  • The downfall was also due to the $ 57 million cost associated with the previous chip of the company's generations as the demand for cryptococats was reduced.

Japan is a plan to regulate crypto-wallet services

  • The most important Japanese financial regulator, the Financial Services Agency, announced a plan for regulating crypto-wallet services for wallets.
  • One of the main topics on the agenda was the plan for regulating the services of crypto-wallets and their providers.
  • Possible regulatory measures include the maintenance of an internal control system, the separate management of crypto-currencies of service providers and customers, the revision of financial statements, the publication of policies in case of theft and the retention of funds for repayment of clients.

OKCoin is expanding to Latin America, adding Argentine peso

  • OKCoin, one of the largest crypto currency exchanges in the world, is expanding to Latin America, despite the continuing bear market for cryptocurrencies and regulatory uncertainties, and launches a new Buenos Aires-based exchange platform in Buenos Aires, Argentina.
  • Today's launch on November 15, 2018, OKCoin will allow Argentina to deposit Argentine pesos (ARS) in exchange for cryptoccans. These are Bitcoin, Bitcoin Cash, Ether, Ethereum Classic, Litecoin, Ripple, Ada, Star, Zcash and 0k.
  • Argentina is also known as one of the best software development destinations in Latin America.

Seba Cripto AG expects Switzerland's banking license

  • Seba Cripto AG in the current stock market reports predicted that in the first half of 2019 it would receive a Swiss banking license.
  • Guido Buhler, executive director of Seba Cripto, predicted that the company – which recently raised $ 103 million to form the so-called " CryptoBank – obtained a license for a bank and securities trade from the federal government before the end of the second quarter of 2019, the Financial Market Authority (FINMA).
  • Buhler points out that Seba Cripto already sees the big demand of large financial institutions.

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You can find more cryptos theme here.

Additional news from DVN Tech Report can be found here.

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