What has happened in the world of cryptocurrencies during last 7 days? Read below!
The European Central Bank does not want its own e-currency
ECB President Mario Draghi admitted that he does not see the point of issuing a European cryptocurrency that would be the digital equivalent of the euro. The reason is the high use of cash in Europe and the lack of confidence in technology (DLT) on which to base the “coin”.
We learn from ECB research that 78.8% of Europeans still paid in cash in 2017. Payments by credit and debit cards accounted for only 19.1%. The rest of the citizens of the Old Continent (2.1%) used other instruments.
Russian lobbyists want to improve the cryptocurrency law
A group of lobbyists from the Russian Union of Industrialists and Entrepreneurs (RSPP) wants to improve the current proposed rules governing the crypto marketplace in Russia. The draft law “On digital financial assets” is, in their opinion, underdeveloped. Elina Sidorneko, vice-president of RSPP, emphasizes the ideas of the proposed new regulations:
“Cryptocurrencies will have a special status that has never appeared in Russian legislation before and will be regulated under the laws and regulations that will be issued by the Russian Central Bank. The Central Bank will issue licenses for exchange transactions [probably for licenses for exchanges]. As a result, the status of cryptocurrency owners will be special in comparison to the owners of securities. “
Constantinople – Ethereum update in October
Ethereum developers announced updates in the system last year. Constantinople – because that’s how it was called – is to be implemented on October 8.
Due to the change, the nodes forming the system will have to be updated. In the alternative they have a “rebellion” that can lead to the creation of a new currency fora. In practice, this is unlikely to happen now, but the potential fork evokes emotions in the community.
Developer Lane Retting claims that the update will not bring “big changes” to users and is “maintenance and optimization”.
Cryptocurrencies are not a dead market, but BTC alone will no longer be worth 20,000. dollars
This is what Mohamed El-Erian, the Allianz chief adviser, thinks. He also says that “we will see a more widespread adoption of Blockchain technology and related technologies, both by the private and public sectors.”
He also claims that BTC and other digital currencies will come into public use, but the main currency alone will not reach the new ATH. We must admit that both theses bite a bit. When the demand for bitcoins would increase, there are still good chances for further price increases.
In the recent period, we have already written about the pessimism of Vitalik Buterin and the optimism of CEO with Binance and Tim Draper. As you can see, opinions about the future of BTC and other cryptocurrencies are divided.