Crypto assets have little impact on monetary policy, says ECB team

Task force concludes crypto assets do not fulfil functions of money

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Out in the cold: researchers say crypto assets are unlikely to fulfil the functions of money due to their high volatility

Crypto assets do not have any serious implications for either monetary policy or the real economy, and they do not fulfil the functions of money, researchers from the European Central Bank have said.

The ECB Crypto-Assets Task Force examined recent developments in the market, and their potential impact on monetary policy and financial stability. They reported their findings in a paper on May 17.

The group says that “in the current market, crypto assets’ risks or potential implications are

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