According to Reuters ‘ report dated May 14, ECB board member Yves Mersch stressed that banks must “segregate” their commercial transactions with crypto money from other transactions. Mersch stated that the tokens could not be “seen as money” because the crypto market had too much ambiguity, and that those who used it, as well as traders, banks, stock exchanges and intermediary ... Yves Mersch, an executive stated that the bank is looking for ways to help the further adoption of CBDC at a faster pace. The high ranking official gave the key speech at the Consensus 2020 virtual event that talks majorly about cryptocurrencies stating that the bank was looking for ways to implement the adoption of the currency. European Central Bank (ECB) executive board member Yves Mersch has said bitcoin poses a threat to economic stability if financial infrastructure institutions get involved with the cryptocurrency. In an interview with a German daily Börsen-Zeitung, Mersch said that bitcoin’s trading volume is currently “comparatively low” and is therefore not an issue for monetary policy at present. It seems as if the acceptance of Bitcoin futures into the mainstream was last year’s news. ... Yves Mersch with a German newspaper. As if oblivious to the groundswell of movement towards the instruments across the ocean, Mersch said that. What concerns me most, is when financial market infrastructures such as stock exchanges enter this business. That poses a major threat to financial ... European Central Bank (ECB) executive board member Yves Mersch has said bitcoin could pose a threat to economic stability if financial infrastructure institutions get involved with the tech.. In an interview with a German daily Börsen-Zeitung, Mersch said that bitcoin’s trading volume is currently “comparatively low” and is therefore not an issue for monetary policy at present. Yves Mersch, an executive board member at the European Central Bank, feels so strongly about Libra that he says that it isn't even a cryptocurrency. Bitcoin, Ethereum, Ripple’s XRP, Chainlink, And Litecoin Have Suddenly Surged—Here’s Why Leaked ‘Tai Chi’ Document Reveals Binance’s Elaborate Scheme To Evade Bitcoin Regulators Yves Mersch, one of the bank’s board members, revealed the development on Monday during the virtual Consensus 2020. According to Mersch’s statement, the central bank’s plan to release a digital currency is originally not an effort to meet up with the latest trends. The European Central Bank (ECB) is worried about Bitcoin and its possible negative effect to financial stability. Yves Mersch, member of the executive committee of the ECB, is following the cryptocurrency market cautiously. According to him, it can create a big problem for the global financial stability.
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