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Paxtradings Crypto Minute: May 24, 2018

PAX Trading > Crypto Minute > Paxtradings Crypto Minute: May 24, 2018

Bank of Spain Governor Offers Bearish Sentiment On Cryptocurrencies

According to Coindesk, the head of the Bank of Spain stated he believes cryptocurrencies “present more risks than benefits.” Luis María Linde offered this sentiment during a speech organized by auditing firm Deloitte, and also expressed a more positive view on blockchain technology. Spain as a whole has not been very receptive to bitcoin and other cryptocurrencies, seeking instead to link the technology to organized crime through an official Bulletin in March of 2018.

“[Cryptocurrencies] have low acceptance as a means of payment, suffer extreme volatility, present multiple operational vulnerabilities and have been related to fraudulent or illicit activities in many cases.”

German Stock Exchange to Seek Listing of Bitcoin Products

According to Coindesk, the owner of the Frankfurt Stock Exchange is considering offering cryptocurrency products. Speaking at an industry event in London on Wednesday, Deutsche Boerse stated that the firm is first trying to understand the volatility of the bitcoin market and make sure clients and regulators are “in line” before moving forward with any offerings.

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