Bitcoin keeps skyrocketing. Needless to say, this developmenet makes central banks nervous. Do they prepare a counter-offensive?
On 30 November 2017 Bloomberg interviewed Andreas Treichl, CEO of Erste Bank Group (one of the biggest Austrian banks) (Source: https://www.bloomberg.com/news/articles/2017-11-30/though-his-kids-mock-him-on-bitcoin-treichl-predicts-crackdown). When it comes to Bitcoin, Mr. Treichel seems to be sceptical.
However, he made an interesting statement. He claims that Bitcoin can make central banks lose control and they will not allow that to happen. One day the plug on crypto currencies will be pulled.
Meanwhile in Poland...
According to WP Finanse (source: https://finanse.wp.pl/polacy-straca-szanse-na-duze-pieniadze-prezes-zwiazku-bankow-polskich-mowi-o-zakazie-dla-bitcoinow), the Polish parliament commission works on the regulation of the crypto currency market. Even the posibility of a crypto currency investment ban was discussed recently.
Conclusions
The regulatory counter-offensive of central banks/ state authorities should not be surprising. The crypto currency market regulations are just a matter of time. Although, I doubt that crypto currencies as such will be banned. That's because various commercial banks entered the crypto sector and plan to start offering crypto currency related financial products (e.g. crypto certificates etc.). However, the upcomming regulations will not be toothless! Possibly, the individual investors will not be allowed to own/ trade crypto currencies. This priviledge will be granted only to the institutional ones.
