Bitcoin’s volatility has earned criticism of being a vehicle for perpetrating fraud from the likes of Lloyd Blankfein, the chief executive of the US investment bank Goldman Sachs. Luxembourg’s Finance Minister, Pierre Gramegna also suggested that the European Union could soon introduce new cryptocurrency regulations.
What is clear is that 2017 was a crucial year for Bitcoin. Top digital currency soared in popularity globally as its value rose sharply, while crypto gained mainstream media’s attention.
Though there is no evidence, such awareness increased its adoption in Europe, available statistical data about 2017 shows that its use as an every-day payment method in main European economies is still minimal.
Crypto Q&A at the Youth Dialogue
Nevertheless, it is obvious that new information has been dropped into the public domain for many people to sort on their own. It should make the ECB’s Q&A session to be an interesting watch even if nothing new is expected.
The session is coming in the wake of the recent suspension of Bitcoin-backed Visa debit cards in Europe and proposed introduction of EU-wide regulation on such currencies. It’s also worth thinking what the outcome could mean for the affected payment processors who are reportedly in talks with alternate card issuers in Europe and for those seeking to set up a crypto/fiat bank that would be independent of traditional banks.