Ulrich Bindseil, Director General for Market Infrastructure at the European Central Bank (ECB), and Jürgen Schaaf, an adviser to the ECB, have taken the view, echoing their article published in 2022, that the use of the Bitcoin digital currency, both as a means of payment and as a means of investment, is unsafe and inefficient. This note follows the decision by the US Securities and Exchange Commission (SEC) on 10 January to approve exchange-traded funds (ETFs) for Bitcoin.
The two...