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European Central Bank Says the Regulation of the Cryptocurrencies is Not a Priority

In a short interview for CNBC, Danièle Nouy, the Chair of the Supervisory Board at the European Central Bank (ECB) expressed the opinion of the bank regarding the regulation of the cryptocurrency ecosystem. Nuoy said there were no indications the cryptocurrency regulations would come from Europe and added that the involvement of the European Central Bank in this field is really, really little: “We scrutinize the issue in a regulatory perspective, we are ready to do something if it was needed, but so far it’s not exactly very high on our to-do list,” she told the network.”

This comment comes before the G20 meeting that will be held in Buenos Aires in March this year. The main topic of the summit will be the regulation of the cryptocurrencies.

During the World Economic Forum held last month in Davos, Benoît Cœuré, a member of the Executive Board of the European Central Bank, said he expected the international community to be completely dedicated to the regulation of the cryptocurrencies during the upcoming G20 summit in Argentina.

The French Minister of Economy, Bruno Le Maire, is the only European bureaucrat who called for an effort to regulate the cryptocurrencies. The rest of the EU bureaucrats seem to be less interested to cooperate.

The President of the ECB, Mario Draghi, gave a speech in the European Parliament in Strasbourg on Monday where he said the following: “We are not observing a systematically relevant holding of digital currencies by supervised institutions.” He also added: “Actually, credit institutions are showing limited appetite for digital currencies, like Bitcoin.”

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