According to a recent paper shared by the European Cental Bank (ECB), cryptocurrencies pose no threat to the financial stability in the euro zone.

It goes on to reveal that the combined value of crypto-assets is small relative to the financial system and linkages to the financial sector are still limited.

Banks and other financial institution do not appear to have relevant holdings of crypto-assets as well as a very low number of merchants currently allow buying of goods and services using crypto.

The report concludes that the risk or potential implication of the technology are limited and is manageable on the basis of the existing regulatory and oversight frameworks.

ECB it seems has not changed its stance about cryptocurrencies echoing what it said last year stating that it sees no concrete need to issue a digital version of the euro and financial institutions do not appear to be as enthusiastic about cryptocurrencies as the public.