Ethereum

Bank

Rome

Bitcoin

Fabio Panetta, a member of the Governing Council of the European Central Bank and President of the Bank of Italy, targeted Bitcoin and Ethereum, the world's two largest cryptocurrencies, at a conference held in Rome yesterday.
Speaking at the Italian Banking Association Annual Meeting, Panetta said that BTC and ETH lack real value.
Panetta stated that BTC and ETH were not issued by any organization, so they lack real value.
According to Panetta, BTC and ETH have no intrinsic value and cannot perform monetary functions.
Claiming that investing in Bitcoin and Ethereum is actually like gambling, Panetta said:
<blockquote>
 “Unsecured cryptocurrencies such as Bitcoin and Ethereum have no intrinsic value, are sometimes bought and sold in opaque circuits, and cannot perform monetary functions.”
 Bitcoin and Ethereum do not have the features that qualify them to fulfill the three basic functions of fiat money: medium of payment, store of value, and unit of account.
 Without any guarantee and not backed by any real or financial asset, these assets are subject to high fluctuations and risks.
 Moreover, these assets are often used for tax avoidance or money laundering purposes.”
</blockquote>
Finally, Panetta also announced that the Bank of Italy will publish guidelines on how the European Union's cryptocurrency rules (MICA) will be implemented in the coming days.
“The guidelines aim to protect crypto holders and ensure compliance with MiCA laws, potentially increasing investigations and penalties for market violations in Italy,” Panetta said. said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-btc-and-ethereum-eth-statement-from-the-president-of-the-central-bank-of-italy/" rel="noopener noreferrer nofollow">Bitcoin (BTC) and Ethereum (ETH) Statement from the President of the Central Bank of Italy!</a>

Bitcoin (BTC) and Ethereum (ETH) Statement from the President of the Central Bank of Italy!

Bitcoin Sistemi EN

Andere artikelen gepubliceerd op 10 jul 2024

Flipster Launches Trading Competitions with 150,000 USDT worth of prizes to Celebrate 1st Anniver...

SingularityNET and Filecoin Foundation Join Forces for AI Integration

Ethereum Bounces Back – Can ETF Approval Bolster the Uptrend as Whales Amass ETH?

Bittensor AI Network Expands with Masa’s Subnet Achievement

Polygon surpasses Bitcoin, Solana in daily NFT sales volume

Trending Meme Coin To Invest In Today, Tuesday, July 9 – PeiPei (ETH), Minu, Shiba Inu, Base Dawgz

Meld je aan voor onze gratis nieuwsbrief voor dagelijkse crypto-updates!