Bitcoin (EXANTE: Bitcoin) is unlikely to avoid regulatory oversight as its adoption accelerates, the governor of Sweden’s central bank, Riksbank, Stefan Ingves, told Bloomberg. Stefan believes that bitcoin and other cryptocurrencies will eventually get big enough, which will lead to regulatory supervision.
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"When something gets big enough, things like consumer interests and money laundering come into play. So there is good reason to believe that [regulation] will happen," he explained.
However, it remains unclear how Riksbank is going to regulate cryptocurrencies based on a distributed ledger technology. One way or the other, the Swedish banking sector has other things on its mind. The sector is concerned about the e-krona, an electronic equivalent of Sweden’s currency, as its deposit base could suffer over the nature of the upcoming currency.
Masih Yazdi, SEB's CFO, earlier said that Swedes withdrawals from deposit accounts into e-krona would potentially deprive banks of funding without liquidity. However, Riksbank Deputy Governor, Cecilia Skingsley, emphasizes that people can already exit the banking system by buying treasury bills, if they want to.
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