Crypto

Ireland’s central bank is “very concerned” about the rise in popularity of bitcoin (BTC) – Journal du Coin

Hundredth repeat of a classic Bitcoin opponents’ speeches no longer come as a surprise in the cryptosphere. Today it was the turn of the head of the Central Bank of Ireland to attack the cryptocurrency. However, I’m not sure if his warnings are being heard by the Irish, who are more cryptophiles than his European neighbors.

Always the same refrain about bitcoin

In a May 31 interview with Bloomberg, the CFO of the Central Bank of Ireland, Derville Rowland, pointed out that growing popularity cryptocurrencies such as Bitcoin (BTC) have been “Very disturbing”… This discourse against Bitcoin follows Governor of the Bank of England Andrew Baileywho even went so far as to point his finger atlack of intrinsic value among cryptocurrencies.

Bitcoin bubble

Rowland’s statements came the day after the announcement BNY Mellon with regard to creating new crypto block in Dublin: “Center for Digital Innovation”… Remember that BNY Mellon is one of the oldest US banks with a presence in Ireland since 1994. Its new product will allow its clients to store, transfer and issue cryptocurrencies. It will be regulated by the Central Bank and will play a role depository for BTCthen NFT and central bank digital currencies (MNBC).

A bank with a difficult start for Irish cryptophiles

Taking into account Rowland’s statements, the Central Bank of Ireland is therefore quite careful compared to cryptocurrencies, because it would be“Speculative and unregulated investments”… However, despite these caveats, an investigation by the financial management app Plum showed that the Irish had invested 92% more in cryptocurrencies compared to British, French and Spanish.

Bitcoin in suit pocket

BNY Mellon first announced its intention in February keep and from to govern bitcoins and other cryptocurrencies on behalf of their clients.

Another criticism comes from Isabelle Schnabel, board member of the European Central Bank (ECB), who called Bitcoin a “very fragile” fallacy. In addition, the collapse of the BTC markets today is causing classic criticism of Bitcoin and cryptocurrency in general. After all, is this a legitimate pursuit or just a fear of high potential currencies?

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