European Central Bank on Wednesday posit that Bitcoin is artificial and shouldn’t be legitimized, as it is more like betting or gamble filled with uncertainty.
Bitcoin and its associates digital cryptocurrencies are been promoted as an alternatives to global money, which expansion policies contradicts conventional central banks of the world
Authors Ulrich Bindseil said “Since Bitcoin appears to be neither suitable as a payment system nor as a form of investment, it should be treated as neither in regulatory terms and thus should not be legitimised.”
According to Bindseil cryptocurrencies should be classified as betting or gambling following recent scandal such as the collapse of the FXT exchange. Bindseil also accused Bitcoin big players of artificially inducing it stability with incentives to sustain it frenzy on it teeming subscribers.
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