One of the great concerns of European Bank is that Bitcoin can effectively impact the financial stability of any region. Until now, banks and policymakers have not paid enough attention to cryptocurrencies. At the moment, the European Union, which is quite impressed with the potential of the blockchain is willing to research it.
On a European level, only a few countries introduced their taxation regulation. However, the European Central Bank has no plans to regulate cryptocurrencies, they even don't have enough power to do it effectively.
At the moment, the ECB may not see Bitcoin as a threat, but things can change. The main goal of the ECB is to study the risks connected with cryptocurrencies in the future. Especially Bitcoin which may cause a major risk to financial stability.
Before making any conclusions, it is necessary to conduct additional studies. Regulating the сryptocurrency is a complicated issue, because no one is able to control the cryptocurrency, not even the European Central Bank.
At the moment, the European Central Bank can only provide more guidelines to help mitigate any impact on local economies.