European Central Bank wary of Bitcoin $10.000

A member of the ECB’s Governing Council Ewald Nowotny states that the rise of Bitcoin to $10.000 may affect the real economy
28 November 2017   512

Ewald Nowotny, the governor of the Austrian Central Bank, who also serves as a member of the ECB’s Governing Council assumes that the rise of Bitcoin may affect the real economy, cause panic and shift the blame to central banks.

The problem with bitcoin is that it could easily blow up and central banks could then be accused of not doing anything…So we’re trying to understand whether bank activity in relation to cryptocurrency trading needs to be better regulated.

 

Ewald Nowotny

The governor of the Austrian Central Bank and a member of the ECB’s Governing Council

The rules and regulations in Europe allow for the easy buying and selling of cryptocurrencies. Europe holds Bitcoin in popularity, but additional altcoins are also widely available.

2k Confiscated BTC Created Issue for Finland Authorities

Authorities of Finland had faced bureaucratic problems while trying to handle seized crypto coins
20 February 2018   10

Finland is trying to solve confiscated Bitcoin storing issue. This is reported by Bloomberg.

The crux of the problem is that authorities handling the coins won’t be able to store them on virtual currency exchanges due to bureaucratic problems. They have to store them offline. This is said in the documents, seen by the Bloomberg.

Most of the coins have been confiscated in raids conducted since 2016. There is no info how the coins were stored until now.

The official guidelines states that Finland authorities can’t treat Bitcoin or its crypto competitors like a currency. It’s an asset that, as a rule, can’t be used or accepted as a means of payment or as an investment, according to the Treasury document.

Cryptocurrencies seized by the Finnish state can be converted into euros after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges, which can be untrustworthy and opaque, the Treasury said.

Finnish state can convert seized crypto to euros only after a court ruling on their appropriation has become binding. The sales should primarily take place via public auctions rather than commercial exchanges the Treasury said.