18.4 C
New York
Wednesday, May 18, 2022

ECB wants banks to segregate any virtual currency business

ECB wants banks to segregate any virtual currency business© Reuters. The logo of the European Central Bank (ECB) is pictured outside its headquarters in Frankfurt

FRANKFURT (Reuters) – Banks should ring-fence any business they do with virtual currency (VC) such as Bitcoins and post “adequate” amounts of capital against it, a European Central Bank board member said on Monday.

“Due to the high volatility of VCs it might seem appropriate to require any VC trading to be backed by adequate levels of capital, and segregated from other trading and investment activities,” Yves Mersch told a conference in Turkey.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

11,298FansLike
12,893FollowersFollow
752FollowersFollow
- Advertisement -

Latest Articles

Popular Articles