A proposal in the European Union passed in 2016 defines cryptocurrencies as “a digital representation of value that is neither issued by a central bank or a public authority, nor necessarily attached to a fiat currency, but is accepted by natural or legal persons as a means of payment and can be transferred, stored or traded electronically*
Mario Draghi, the president of the European Central Bank has warned that crytptocurrencies are “very risky assets” due to speculative prices and high volatility.
