High-ranking members of Europe’s preeminent central bank said that trading the world’s most-used cryptocurrency is more like gambling.
, especially in the U.S., and that legislation and regulatory frameworks have been so slow to roll out since legislators still believe they must bow to the whims of innovation. They seem to imply any tacit approval of bitcoin, whether by governments or financial institutions, only further perpetuates the fraud.
“The supposed sanction of regulation has also tempted the conventional financial industry to make it easier for customers to access bitcoin,” the ECB pair wrote. “This concerns asset managers and payment service providers as well as insurers and banks. The entry of financial institutions suggests to small investors that investments in bitcoin are sound.”profits caused
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