Cryptocurrency

“Cryptocurrencies Threaten Financial Security”

China, which has been obsessed with crypto money markets in recent periods, made a new statement on the subject. Bank of China Vice Leader Fan Yifei, in a statement he made recently, said that Bitcoin and stable coins a speculative tool

He said it became .

Yifei did not just say that Bitcoin and stable coins are just speculative tools. The Chinese official, in his statements on the matter, said that the crypto money world financial security and social stability also said that he threatened.

Cryptocurrencies are defined as “private digital currency”

Mentioning that the Chinese government is working on this issue, Deputy Leader of the Central Bank of China, Fan Yifei, says that they divide digital currencies into two. One of these two sets affiliated to central banks mentioning that there are digital currencies, Yifei states that the second cluster, which includes known cryptocurrencies, is special digital currencies. Here are these digital currencies custom” poses a risk to the existing system.

Stable coins are currencies that are indexed to a random currency. Among these, one of the most recognizable Tether. The price of the altcoin, which is indexed to the dollar, is always $ 1 (sometimes it trades in the middle of $ 0.99 to $ 1.01). So how does this currency unit become a speculative instrument? According to Fan Yifei, the reason they are fearful about this is because stable coins are international payment and monetary systems that may cause problems.

Source:Webtechno

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