Chairman of the Swiss National Bank talks on cryptocurrency
Swiss Banking Chairman has shared his opinion on what cryptocurrencies should be held for.
According to Thomas Jordan, cryptocurrencies are rather an investment than a currency. This is how they are ought to be treated at the moment. He also noted that there are many unsettled issues as far as cryptocurrency’s operation is concerned and underscored that “It is important to say it is not a question of technology, but a question of who has access to central bank money and in what form.”
Thomas Jordan also thinks that central banks should keep a close eye on the cryptocurrency development and make no hasty calls.
Kreston GCG would like to mention that there is no single interpretation of the cryptocurrency. There are many different interpretations, each with its own pros and cons. Even those many jurisdictions that have legalised cryptocurrencies treat them differently. Germany refers to them as a “units of account”, while Japan sees them as “means of payment”.
In Ukraine, the cryptocurrency has not yet gained a legal status. In October, however, the relative bill was registered for consideration in Verkhovna Rada. Ukraine has become the first CIS country to raise the cryptocurrency issue at the government level.