Cryptocurrency, European authorities increasingly worried

Cryptocurrency, European authorities increasingly worried: the alert on illicit uses of virtual currencies grows.

A few weeks after the obvious swings that conditioned the Bitcoin quotes, the European authorities launched a concrete warning, last Monday, on the risks of investing in them.

According to the European Securities and Markets Authority (ESMA), Bitcoin and other virtual currencies "They showed clear signs of a price bubble." In addition to that, the exchanges of criptovaluta they could have very serious operational problems, without there being sufficient legal preservers for those who invest through them, and should lose the cryptocurrency paid.

In short, the cryptocurrency they are a sort of "wild west" of the technology industry, for ESMA. However, the European authority itself is aware that such a phenomenon cannot simply be rejected by the sender: the technology behind cryptocurrency transactions, the blockchain, is already spreading well beyond cryptocurrency financial transactions, making it particularly useful to be able to effectively manage each activity.

Hence, the (late?) Approach of ESMA, which calls for "not to invest money that you cannot afford to lose". "ESMA is definitely trying to close the barn door ... after the horse has run away" - said Toby Lewis, an analyst at Novum Insights. This does not mean, however, that the authorities must necessarily remain firm. "We hope that their warning about the lack of regulation in the sector will be followed by steps towards smart regulation of cryptocurrencies" - he added.

In short, something is moving (again!) In the cryptocurrency sector, but as has already happened in the past, the movements seem to be rather uncoordinated and tiring. We just have to arm ourselves with a little patience and try to understand what the first new disciplines will be in a sector that is ready to give satisfactions and regrets in equal measure ...