In spite of previous rumors, the eurozone has no plans to issue a digital currency, according to Carl-Ludwig Thiele, Bundesbank board member.
“Digital central bank money analogous to cash is currently not in sight.”
The statement runs contrary to a previous statement made by Jens Weidmann, the head of Bundesbank, suggesting that a digital currency comparable to Bitcoin could potentially protect European citizens.
Thiele also warned investors that substantial losses were very possible. He stated:
“We are seeing a rapid increase in value, which brings the risk of rapid losses.”
Despite the rejection of the concept in the eurozone, other countries are still considering governmental cryptocurrencies. Russia and Dubai have both begun working toward nationalized digital currencies.
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Author: Jon Buck