Ulrich Bindseil and Jürgen Schaaf from the European Central Bank have reiterated their strong opposition to states and central banks holding Bitcoin as a reserve, arguing it poses economic risks and lacks real utility. They criticize proposals for Bitcoin reserves in Europe and Switzerland, claiming such initiatives are vague and economically unviable. Despite their concerns, the growing interest in Bitcoin from governments and institutions suggests a shift in perception that challenges traditional economic views.
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0 posts last weekPortuguese Bank BiG Blocks Fiat Transfers to Cryptocurrency Platforms
Banco of Investimentos Globais (BiG), one of Portugal’s largest banks, has begun blocking fiat transfers to crypto platforms, citing compliance with European Central Bank guidelines and local laws against money laundering and terrorism financing. This decision has drawn criticism, with some arguing it reflects an outdated view of the inevitable rise of cryptocurrency. Meanwhile, other banks in Portugal, like Caixa Geral de Depósitos, continue to allow such transfers.
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