The Central bank of Spain, Bank of Spain, has published a new statement on its official blog, claiming that cryptocurrency will not replace fiat currency since cryptocurrencies "are not a common" assets as fiat.
The statement also highlights a negative tone regarding the lack of supervision since the crypto industry isn’t regulated by watchdogs.
Moreover, the bank decided to remind that crypto is an asset of high volatility class, calling into question the cryptography of cryptocurrencies.
The bank's new point of view is definitely different, then it was last year when the financial institute responded positively regarding cryptocurrencies and a digital currency issued by a government.
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