European Parliament Sees No Threat in Cryptocurrencies

July 24, 2018

About half a month ago the EU Parliament Committee that is aimed to resolve economic and monetary issues (ECON) presented its report to tell that digital currencies facilitate financial transactions and enhance their transparency and security. Consequently, they are no threat to the Central Banks of the EU countries and state currencies.

Poland-based Social Economic Research Center has conducted a study recently to find out that digital currencies produce positive effects on transaction rate.

Along with that the report stresses that cryptocurrencies are a solution necessary for the present day market and have all crucial features to settle on the global market soon and turn to be a full-fledged private payment means.

The experts focused attention on the fact that cryptocurrencies today as no threat for the already existing conventional state currencies and Central Banks and added they cannot undermine current monetary structure especially in the countries with active state currency turnover.

The experts compared crypto and national currencies and have reached the conclusion that total number of digital currencies are far smaller than that of the conventional ones. They noted that a number of countries stuck in long-lasting economic crisis with Venezuela among them are likely to use cryptocurrencies as alternative to the national ones.

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