Inflation could increase investments in cryptocurrencies

The president of the European Securities and Markets Authority, Verana Ross, expressed that the current economic environment together with financial fluctuation and high levels of inflation could facilitate and attract investors to the cryptocurrency market.

“With inflation on the rise, investors will look for investments that can try to offset this indicator and generate higher returns, which could lead to more risk taking. This is something that we are monitoring very closely,” said the president of the European entity.

Ross indicated that in the face of this economic panorama, the European Union (EU) must add actions and “have a regulatory perspective” that adapts to the needs of investors and those interested in the cryptographic market in general.

The official also pointed out that digital currencies could serve as “safe haven assets” for citizens, driven by the high yields of digital assets that make them “much more attractive as investment assets.”

Regulatory criteria in the EU

For the president of the European Securities and Markets Authority, it is essential and urgent to unify the regulatory criteria for cryptocurrencies, since there are currently a variety of approaches and regulations in European territory

Ross considers that a “more unified perspective” is necessary on the part of the entities responsible for legislating and regulating the matter in order to achieve a greater balance in the “approaches made by regulators”.

The statements made by Ross coincide with those made by Christine Lagarde, president of the Central Bank of Europe, who on several occasions “has requested a stricter regulation on cryptocurrencies and their speculative attributes, personally declaring herself against said assets.”

M. Rodríguez

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Source: diariobitcoin.com