According to a report in the Financial Times, Cœuré, a member of the Executive Board of the European Central Bank (ECB), has become the latest member of the banking old guard to discredit the financial and technology innovation.
He admitted there was some genius behind Bitcoin, but the digital currency was not necessarily positive for society: “Lightning may strike me for saying this in the Tower of Basel — but Bitcoin was an extremely clever idea. Sadly, not every clever idea is a good idea.”
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