{"id":4429,"date":"2018-02-09T03:23:29","date_gmt":"2018-02-09T03:23:29","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=4429"},"modified":"2018-02-09T03:23:29","modified_gmt":"2018-02-09T03:23:29","slug":"ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\/","title":{"rendered":"ECB President Draghi Says European Banks Could Soon Hold Bitcoin"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-3563 alignleft\" src=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/mario-draghi.jpg\" alt=\"\" width=\"380\" height=\"250\" \/>Mario Draghi, the President of the <a href=\"https:\/\/www.ecb.europa.eu\/home\/html\/index.en.html\">European Central Bank<\/a>, has admitted that the European banks could soon hold positions in Bitcoin. Draghi has spoken against Bitcoin in the past. In fact, two days before, the ECB\u2019s chief supervisor Daniele Nouy <a href=\"https:\/\/www.cnbc.com\/2018\/02\/07\/bitcoin-ecb-says-regulating-cryptocurrencies-is-not-high-on-our-to-do-list.html\">said to CNBC<\/a> <strong>&#8220;crypto currencies are not in the ECB\u2019s priority list.&#8221; <\/strong><\/p>\n<p>While delivering a speech to the European Parliament in Strasbourg, France, Draghi said the bank\u2019s supervisory board is currently studying whether crypto currencies are posing any risk to the Euro zone\u2019s financial stability. Furthermore, Draghi said that European banks are currently showing \u201climited appetite\u201d for Bitcoin and other crypto currencies.<\/p>\n<p>Draghi said<\/p>\n<blockquote><p>\u201cHowever, recent developments, such as listing of Bitcoin futures contracts by US exchanges, could lead European banks too to hold positions in Bitcoin, and therefore we will certainly look at that.\u201d<\/p><\/blockquote>\n<p>The statement is of paramount importance in the sense that Draghi had been a critic of Bitcoin in the past. The president of the ECB had stated that \u2018unregulated\u2019 crypto currencies such as Bitcoin are \u2018very risky assets\u2019 and banks should consider risks before including it in their portfolio. The <a href=\"https:\/\/www.legitgambling.com\/news\/cme-launch-bitcoin-derivatives-trading-december\/\">listing of Bitcoin futures by the CME<\/a> and CBOE exchanges invoked sharp criticism among financial leaders. However, the SEC Chairman <a href=\"https:\/\/www.legitgambling.com\/news\/us-sec-chairmans-testimony-indicates-icos-will-regarded-securities\/\">Jay Clayton\u2019s testimony indicates<\/a> that the US regulators have clearly understand the positive aspects of the technology that is going to revolutionize many business sectors in the future.<\/p>\n<p>Coming back to Europe, Draghi also hinted that the ECB may bring forth a \u2018Single Supervisory Mechanism\u2019 to monitor <a href=\"https:\/\/www.legitgambling.com\/cryptocurrency\">crypto currency<\/a> related risks towards banks and other financial institutions. Notably, Draghi has previously mentioned that the ECB does not have adequate powers to regulate Bitcoin.<\/p>\n<p>The price of Bitcoin, a deflationary currency, may see a sharp rise if banks and other major financial institutions start investing in the currency.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mario Draghi, the President of the European Central Bank, has admitted that the European banks could soon hold positions in Bitcoin. Draghi has spoken against Bitcoin in the past. In fact, two days before, the ECB\u2019s chief supervisor Daniele Nouy said to CNBC &#8220;crypto currencies are not in the ECB\u2019s priority list.&#8221; While delivering a [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[69,68],"tags":[],"class_list":["post-4429","post","type-post","status-publish","format-standard","hentry","category-bitcoin","category-cryptocurrency"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>ECB President Draghi Says European Banks Could Soon Hold Bitcoin<\/title>\n<meta name=\"description\" content=\"Mario Draghi, the President of the European Central Bank, has admitted that the European banks could soon hold positions in Bitcoin. Furthermore, Draghi said that European banks are currently showing \u201climited appetite\u201d for Bitcoin and other crypto currencies.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.legitgambling.com\/news\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"ECB President Draghi Says European Banks Could Soon Hold Bitcoin\" \/>\n<meta property=\"og:description\" content=\"Mario Draghi, the President of the European Central Bank, has admitted that the European banks could soon hold positions in Bitcoin. Furthermore, Draghi said that European banks are currently showing \u201climited appetite\u201d for Bitcoin and other crypto currencies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.legitgambling.com\/news\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\/\" \/>\n<meta property=\"article:published_time\" content=\"2018-02-09T03:23:29+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.legitgambling.com\/news\/wp-content\/uploads\/2018\/01\/mario-draghi.jpg\" \/>\n<meta name=\"author\" content=\"Cameron Bishop\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Cameron Bishop\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/\"},\"author\":{\"name\":\"Cameron Bishop\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"headline\":\"ECB President Draghi Says European Banks Could Soon Hold Bitcoin\",\"datePublished\":\"2018-02-09T03:23:29+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/\"},\"wordCount\":317,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/01\\\/mario-draghi.jpg\",\"articleSection\":[\"Bitcoin\",\"Cryptocurrency\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/\",\"url\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/\",\"name\":\"ECB President Draghi Says European Banks Could Soon Hold Bitcoin\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/ecb-president-draghi-says-european-banks-could-soon-hold-bitcoin\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/wp-content\\\/uploads\\\/2018\\\/01\\\/mario-draghi.jpg\",\"datePublished\":\"2018-02-09T03:23:29+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.legitgambling.com\\\/news\\\/#\\\/schema\\\/person\\\/0e2e077765174748afc2362c890e3f91\"},\"description\":\"Mario Draghi, the President of the European Central Bank, has admitted that the European banks could soon hold positions in Bitcoin. 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