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No cryptocurrency for the eurozone, according to one member of the Bundesbank Executive Board

Carl-Ludwig Thiele, a member of the Executive Board of Bundesbank, one of the largest banks in Europe, confirmed that the eurozone does not consider creating a digital currency.

Thiele said: “A digital central money bank analog to cash is currently not in sight.”

This statement contradicts the earlier statement given by Jens Weidmann, the director of Deutsche Bundesbank, where he said a digital currency similar to bitcoin could potentially protect the European citizens.

Thiele warns the investors about the potential high losses: “We see a rapid increase in value, which brings along the risk of fast losses.”

The European Central Bank (ECB) has already proposed regulations regarding the digital currencies, such as bitcoin, despite the earlier statements that the government is unable to regulate the cryptocurrencies.

Even though the concept of creating a digital currency is rejected in the eurozone, other countries are still considering creating one. Dubai and Russia have already started working on creating national cryptocurrencies.

It will be interesting to see what the future will bring when it comes to national cryptocurrencies, especially in the cases of the countries that are already in the process of launching such currencies.

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