ECB President: EU Banks Show ‘Limited Appetite’ for Cryptocurrencies

The European Central Bank (ECB) said that financial institutions in the European Union do not appear to be as enthusiastic about cryptocurrencies as the public.

In a European Parliament meeting on Feb. 5, the ECB’s president, Mario Draghi, commented that the central bank is not seeing a “notable holding of cryptocurrencies” among banks in the region.

“Actually, the credit institutions established in the European Union are showing a limited appetite for digital currencies like bitcoin, notwithstanding the high level of public interest,” he added.

Yet, he indicated the belief that recent development in the market, such as the launch of bitcoin futures contracts in the U.S., may spark growing interest among the EU’s financial institutions.

He also offered a warning that banks should be wary of the risk of holding cryptocurrencies due to high volatility and risk, as well as the absence of a specific supervisory framework…

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