EWALD NOWOTNY: NOT CLEAR, "BITCOIN IS FOR MONEY LAUNDERING

Ewald Nowotny, a member of the Board of Governors of the European Central Bank, is known for his very critical positions on Bitcoin. Yesterday, he indicated that the asset could be used, thanks to its opaque network, to finance criminal activities.

Ewald NowotnyHe had so far been rather measured, Ewald Nowotny seems to have recently hardened his position. Citing the possibility that Bitcoin might be an asset of choice for criminals, he calls for a stronger regulatory framework around digital assets.

Mr Nowotny, who is also the governor of the Austrian Central Bank, said in an interview with the Austrian newspaper Oberoesterreichische Nachrichten yesterday:

"Bitcoins have not been created transparently and publicly, and they are conducive to money laundering. For a long time, I thought investing in Bitcoin had to be something private. From now on, I feel that regulations are required ".

A statement that may seem surprising, as the blockchain Bitcoin is completely transparent - and that everyone has the opportunity to "track" the course of BTCs, relying on a block explorer.

Be that as it may, the leader seems to be now much more severe with regard to the digital currency. Last November, he said that he and his colleagues in the ECB's Governing Council "are wondering [whether] lawmakers and central banks [should] intervene".

Now, while the ECB would like to tighten the screw around cryptocurrencies, Nowotny calls for stricter regulations for the BTC and others, while he believes that "the valves of Bitcoin are open".

In this interview, he welcomed the decisions of Beijing, which last September chose to end the activity of cryptocurrency trading platforms. Nowotny welcomed the initiative of his Chinese counterpart:

"I agree with what the governor of the People's Bank of China said: Bitcoin is a problem for the police, not for monetary policy."

A pessimistic context
Bitcoin CoinBut man is not the only one to call for the introduction of more stringent laws around cryptocurrencies.

South Korea has recently banned anonymous trading accounts, while China is currently seeking to compel Bitcoin miners to "go out of order" from the region.

Meanwhile, India's Finance Minister said yesterday that the use of Bitcoin could be banned in the country.

At the same time, we learned a few days ago that the companies Bitfinex and Tether Limited had received a summons to appear in early December 2017. This news has fueled doubts about the cryptocurrency Tether (USDT), supposed be guaranteed by dollars, and the number continues to increase.

Facebook announced that it would now prevent companies from running ads for crypto-currencies and ICOs, in order to put an end to "deceptive promotion methods".

This afternoon, around 14:50, the Bitcoin fell for the first time of the year under the threshold of 7800 dollars, before posting a sharp rebound.

Bitcoin price below $ 7800 on February 2, 2018