European Parliament Report on the Challenges Posed by Virtual Currencies to Financial Markets and Monetary Policy

The Policy Department for Economic, Scientific and Quality of Life Policies of the European Parliament has released a report titled “Virtual currencies and central banks monetary policy: challenges ahead”, which was drafted upon a request from the European Parliament’s Committee on Economic and Monetary Affairs (ECON).

The report provides analysis of virtual currencies (VCs), by examining their nature and characteristics, their potential advantages and disadvantages, as well as their impact on central banks and the financial market, in general. It further explores the possibility of VCs being used as a substitute for fiat currency.

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