Consob and ECB opposing positions on cryptocurrencies

Today cryptocurrencies they have always become a digital asset more accepted as well as appreciated by traders but not only! In fact, over the years, supervisory bodies, credit institutions and even institutional investors are also taking an interest in digital currencies. At the end of 2018, however, it seemed that these currencies were going to give up and the speculative bubble instead ready to burst, instead the market has managed to recover and react thanks above all to the positive trend of Bitcoins. But what are the positions and thoughts of Consob e of the ECB against cryptocurrencies? Let's see it together. 

Consob's position on cryptocurrencies 

Consob is a supervisory body which safeguards both investments and banks. In the last period, this body has shown some interest in digital coins. Indeed, the Consob has decided to open up to the world of cryptocurrencies and only on May 28th did he choose to organize an event in which he chose to underline the importance of a text on a regulatory level that can precisely regulate this asset. 

ECB: its position towards digital currencies 

The ECB that is, the European Central Bank expresses its reflections in a publication dedicated to cryptocurrencies. This publication aims to better study the influence relationship between monetary policy and related cryptocurrencies. With its publication, the ECB stated that its position remains unchanged to the previous declarations, so they cannot yet be considered means of payment, and most likely never will be. 

According to the ECB, cryptocurrencies are simply a very risky form of investment, as the prices of digital currencies are highly volatile. Instead, for the European Central Bank, a real currency is a means of payment which is stable and has a store of value. 

The ECB imputed the volatility of these digital currencies the absence of a regulatory body and a centralized body that allows you to control prices, for a sort of activity similar to the ECB itself, for cryptocurrencies.  

In the field of influence between the ECB monetary policy and cryptocurrencies it allows the observers and analysts to relax. The media phenomenon has been very prominent, but from a concrete point of view, investors are a very low number. The ECB manifests itself interest in cryptocurrencies instead stable, namely the stablecoins. In fact, stablecoins have a value linked to FIAT currencies, so these could become a good one in the future digital payment system.