Central Banks Take on Cryptocurrencies: By Country

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Here is a rundown of how each countries central banks feels about the crypto world. Reference 'Business Mirror' article for more in-depth information.

United States:

  • Privacy worry - no policy towards regulating crypto but it's something "worth thinking about"

Euro Area:

  • Tulip like - warns about the dangers of investing in digital currencies relating them to the 'tulip bubble' in the 17th century

China:

  • Cracking Down- making it clear that the central bank has full control over cryptocurrenices

Japan:

  • Not Needed - cash is still king according to the central bank

Germany:

  • Investors Beware - Althogh calling Bitcoins move as having a 'speculative character' the Bundesbank is studying the blockchain for application in payment systems

UK:

  • Potential 'Revolution' - One of the Bank of England Governors has dubbed cryptos as part of a potential "revolution" in finance.

France:

  • Dark Side - Bitcoin has a dark side (citing data attacks) said one of Bank of France's Governors

India:

  • Not Allowed - Indias Central bank is opposed to cryptocurrenices

Check out Business Mirror's article for other countries...

Source Business Mirrors

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Thanks for the article. Peace, Kris

Governments in general are still unclear about cryptocurrency.
A few of the points they make are:

  • They repeatedly say that cryptocurrencies are not legal tender but the trade itself is not illegal.
  • They will be considered assets.
  • People should trade in cryptocurrencies at their own risk as they are known to be highly volatile.
  • There are many Ponzi schemes regarding cryptocurrencies. ( ATC coin, BitConnect Surat office etc.,)

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