EU: “Crypto are an alternative”
The European Parliament affirms that virtual currencies are a viable option to fiat money
This Thursday, the Committee of Economic and Monetary Affairs of the European Parliament stressed that cryptocurrencies should be considered as “a real alternative to fiat money”.
This was detailed in a 136-page document called Competition Problems in the area of financial technology, which highlights that virtual currencies “offer technological and operational paradigms that create a decisive change for the sector.”
This study had the intention of deepening in terms of technological advances in the area of finance and how these can have an impact on the global economy, in this case the cryptocurrencies.
The researchers highlighted the attractiveness of decentralized nature away from central banks, for example.
The study states that, by looking more closely to find potential competition or standardization problems in distributed accounting technology, the institution warns of the concern that could be “the use of cryptocurrencies promoted by banks, including by central banks, which can reshape the level of current competition in the cryptocurrency market“.
K. Tovar
Source: AMBCrypto
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