New report from the EU Parliament backs cryptocurrencies and fights naysayers

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A new report issued by the European parliament is suggesting to all lawmakers to give a chance to cryptocurrencies and not ban or ignore them straight away.

The name of the report “Virtual currnecies and central banks monatry policy: challeges  ahead”. It has been requested by the Economic and Monetary Affairs Committee and contains a lot of information regarding the support for digital currencies.

There have been made many supportive arguments in favour of digital currencies as being relatively safe, transparent and fast.

The report countinues:

“This gives them good prospects for further developement. However, they remain unlikely to challenge the dominant position of sovereign currencies and central banks,
esspecially those in major currency areas. As with other innovations, virtual currencies pose a challenge to financial regulators, in particular because of their anonymity and trans-border character.”

As many of the public figures and media are continuing to call on the failure of Bitcoin, the European Parliament has a very positive view of the future of digital currencies. So this report not only gives a great support for crypto but it also attacks all of the negative people who are pushing it down on digital currencies and tries to convince them into the
opposite that its not all that bad when it comes to doing finances on the blockchain.

A specific target in this report have been people like the economist Robert Shiller who had made himself a rather infamous person with his comments and findings on all of the possible negative outcomes when it comes to Bitcoin.