RATE Group | Cryptocurrencies Like Bitcoin Are Not Real Money: German Parliament
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Cryptocurrencies Like Bitcoin Are Not Real Money: German Parliament

17 Nov Cryptocurrencies Like Bitcoin Are Not Real Money: German Parliament

Posted at 19:24h in Cryptocurrency News by

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Cryptocurrencies such as Bitcoin (BTC) are not real money, according to a statement published by the German federal parliament on Oct. 28.

Not a payment vehicle, not a store of value

Per the announcement, the assets offered by the current cryptocurrency landscape — such as Bitcoin — provide only a very limited portion of the features expected of traditional money. The statement – titled “Crypto tokens are not real money” – is based on an answer provided by the German federal government to a question from the Free Democratic Party parliamentary group.

The answer provided defines the basic features of money as the following: exchange and means of payment, store of value and unit of account. The announcement points out that the volume of payments carried out using crypto is limited when compared to fiat currencies.

Stablecoins are not an alternative to fiat money

Moreover, the author of the statement also claims that the fluctuations reported by the value render crypto-tokens…

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