The Finance Minister of Portugal says Regulators are Following Bitcoin's Development
The Finance Minister of Portugal has decided to talk about bitcoin during an interview with Bloomberg. Mario Centano, who is besides the Finance Minister of Portugal also the president of the Eurogroup, said that he is sure that European regulators are overseeing bitcoin.
This means that Centano said that he is not worried about the impact of bitcoin when it comes to the European Union's finances, because both European regulators and other regulators throughout the world are following bitcoin and its evolution. Centano said that they are "overseeing the general picture."
Centano was also asked during the same interview about his views on the idea that bitcoin could be a bubble. He claimed that regulators are now more aware than they were in 2008, but added that if this would happen, the impact would not be "pleasant."
“If we go again into trouble with some sort of bubble in the financial markets, that would be not a pleasant [sic] outcome at this stage. I think that regulators now are much more aware of that and they will be doing their job.”
The fact that regulators are overseeing bitcoin and its development is without a doubt something true, as bitcoin has gotten a lot of attention given that it just hit a new all-time high, almost reaching $20,000. Furthermore, it is important to mention that several authorities from different countries have issued warnings for potential investors.
Several authorities issued warnings on bitcoin
One such warning came for instance from the New Zealand's Financial Market authority, which told investors to stay away from a cryptocurrency venture. The Israel Securities Authority previously called bitcoin a bubble, but it supported a friendly approach to ICOs.
The Central Bank of Portugal has also previously revealed that it was monitoring bitcoin. However, the central bank did not necessarily show a friendly attitude towards bitcoin, saying that this is not a currency. Several central banks in many countries have previously issued warnings regarding bitcoin.
