European Banks Aren't Interested in Crypto Investments

This is said by Chairman of European Central Bank at his Europarlament Speech
06 February 2018   291

Chairman of the European Central Bank (ECB) Mario Draghi said that the regulator is studying the potential risks that crypto currencies represent for the financial stability of the banking industry. However, according to the ECB, banks are not interested in bitcoin investments. This is reported by Reuters.

We are not observing a systematically relevant holding of digital currencies by supervised institutions. Actually, credit institutions ... are showing limited appetite for digital currencies, like Bitcoin. We should understand that Bitcoin and other digital currencies are in the unregulated space and should be regarded as very risky assets. Banks should measure the risk of any holding of digital currencies in their portfolio accordingly.

Mario Draghi

Chairman, European Central Bank

 Due to the lack of regulatory and legal framework and regulation in the crypto-currency industry, digital currencies are "high-risk assets". According to Draghi, banks should take this into account when including cryptocurrency in their investment portfolios.

Previously Mario Draghi questioned the maturity of the industry and its readiness for government regulation.

Nevertheless, the chairman of the ECB is convinced that financial and technological innovations should be closely watched by regulatory bodies in the context of potential risks.

Consensus 2018 summit to be held in New York City

4th annual blockchain technology summit - Consensus 2018, will take place in New York City on May 14-16
22 April 2018   41

CoinDesk has announced its 4th annual blockchain technology summit Consensus 2018 on May 14-16 at the New York Hilton Midtown. Along with the discussions on the blockchain technology, the event is going to feature a hackathon, PoW pitch competition and a scholarship award in a partnership with Zcash. Title sponsors of the event include bloq, Deloitte, Ledger, Octagon Strategy and SONM.

Consensus 2018 will feature 250+ speakers and 4,000+ attendees from the leading industry startups, investors, financial institutions, enterprise tech leaders, and academic and policy groups who are building the foundations of the blockchain and digital currency economy. Among the notable speakers there will be Blockstack co-founder Dr. Muneeb Ali, J.P.Morgan blockchain program lead Amber Baldet, eToro CEO and founder Yoni Assia, Hyperledger executive director Brian Behlendorf, ConsenSys founder Steve Cerveny, Athena Capital founder Meltem Demirors and many others.

The full 3-day agenda of the event can be found here.