By contrast, the European Union’s report plays devil’s advocate for both cryptocurrency’s strengths and its weaknesses and examines the asset class from a variety of angles.
Subtitled “Potential economic advantages and disadvantages of VCs (risks and opportunities),” the report then launches into a subsection to weigh crypto’s pros and cons.
This is especially useful in developing or impoverished nations where citizens lack access to traditional financial instruments, the report states.
The report finishes the section with a brief overview on the cryptocurrency regulatory policies of the United States, Switzerland and China.
Ultimately, the report finds that, except in cases of extreme political, social or economic unrest, cryptocurrencies likely will never replace government-issued tender.
The EU’s Policy Department for Economic, Scientific and Quality of Life Policies released a report entitled “Virtual currencies and central banks monetary policy: challenges ahead.
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