RATE Group | Cryptocurrency Faces Anti-Competitive Hurdles, EU Parliament Research Shows
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Cryptocurrency Faces Anti-Competitive Hurdles, EU Parliament Research Shows

25 Jul Cryptocurrency Faces Anti-Competitive Hurdles, EU Parliament Research Shows

Posted at 18:41h in Cryptocurrency News by

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A research paper commissioned by the Economy Committee at the European Parliament sees banks employing anti-competitive measures against cryptocurrency projects.

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The European Parliament Committee on Economic and Monetary Affairs (ECON) sees crypto assets as an indispensable element of European financial technology (fintech) and warns against anti-competitive behavior by traditional banks. A paper, crafted by the Policy Department for Economic, Scientific and Quality of Life Policies, suggests that organizations and entities could issue crypto assets in lieu of money, as a form of value exchange.

The study, however, does not deliver a verdict on whether Bitcoin (BTC) is money. But the authors admit that crypto assets can disrupt the current monetary construction:

“These cryptocurrencies offer technological and operational paradigms that are a source of disruption for the entire sector, including monetary policy and financial stability.”

The European Central Bank has…

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