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HIGH PROFILE COMMENT ON BITCOIN:........ Bitcoin Not 'Mature' Enough to Be Regulated - ECB President

From the vintage position of expertise and experience, the President of European Central Bank(ECB), Mario Draghi has said that cryptocurrencies are not "mature" enough to be regulated.

Speaking at a press conference last week, CNBC reports, Draghi told reporters that "With anything that's new, people have great expectations and also great uncertainty. Right now, we think that – especially as far as bitcoins and cryptocurrencies are concerned – we don't think the technology is mature for our consideration."

Making the comments in response to a question on the potential of cryptocurrencies, Draghi further said that one of the lessons of the financial crisis is to "cherish" the benefits of fintech innovations like bitcoin, while still paying attention to their "potential risks."

The comments follow his statement last month to the European Parliament's Committee on Economic and Monetary Affairs, in which he said that ECB does not have powers to regulate or prohibit cryptocurrencies.

While it seems Draghi plans to wait as the technology matures, Christine Lagarde, managing director of the International Monetary Fund (IMF), recently said that cryptocurrencies must be taken seriously as they have the potential to cause "massive disruptions."

FIRE: We have two valid statements here.  Mario is correct and IMF chief Christine is also perfectly correct.  Bitcoin and cryptocurrencies are nascent and evolving, but at the same time, they have the potential to cause "massive disruptions" if ignored.

Friend, Jesus came looking for you. Give your heart to Him, Love the Lord with all your heart, strength and might.  Love your neighbour as yourself, hold no offence, no bitterness - the Lord is near you to help you!


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