Mario Draghi, president of the European Central Bank, has said it’s not his institution’s job to regulate cryptocurrencies.
As part of the ECB’s #AskDraghi video series, the former Italian central banker said he has seen many users on Twitter ask if the ECB would regulate or even ban bitcoin.
In response, he said:
“It’s not the ECB’s responsibility to do that.”
Blockchain is an innovative technology that could improve efficiency. We are assessing whether it could be used in our own services in the future. Concerning bitcoin and whether you should trust it, President Draghi advises caution, as it is not backed by any central bank or government, adding that it is not the ECB’s job to regulate it.
Write: Sara Bauer