ESMA informs about risks associated with BTC, and Ray Dalio thinks the US may ban cryptocurrency
ESMA warns of risks associated with BTC
The European Securities and Markets Authority believes that cryptocurrencies pose a certain threat. A new report from the agency talks about the risks of losing funds when investing in digital currencies, for example, in BTC.
ESMA believes that some crypto assets are “very risky and speculative.” And the lack of regulation really deprives investors of any guarantees and security.
“Consumers must be alert to the high risks of buying and/or holding these instruments,” the report says.
Ray Dalio says that the US may ban cryptocurrency
The famous American financier Ray Dalio spoke about the high probability of a ban on bitcoin in the United States. The entrepreneur drew a parallel with the decision of the authorities to confiscate gold from citizens during the Great Depression.
“Every country treasures its monopoly on controlling the supply and demand. They [the authorities] don’t want other monies to be operating or competing, because things can get out of control, ”Dalio said.
According to the billionaire, the first crypto coin has proven itself excellently since its inception. Bitcoin has quite a few fans, and its blockchain has not been hacked.
“It is an alternative, in a sense, store hold of wealth. It’s like digital cash. And those are the pluses,” concluded Dalio.
President of Microsoft Corp. spoke out against digital assets
IT companies do not need to issue currencies, the authorities should be engaged in this. This point of view is shared by the President of Microsoft Brad Smith.
“The money supply almost uniquely needs to be managed by an entity that is responsible to the public and thinks really only about the public interest, and that means governments,” said the top manager of the company.
Earlier, Microsoft announced the launch of a decentralized identifier network powered by the BTC blockchain. It was reported that the solution will allow the creation of DIDs and can be used on social networks.