ECB’s Coeure: Cryptocurrencies are poor imitations of money

ECB Executive Board Member Benoit Coeure delivered the following comments in an opinion piece with the Financial Times (FT).

Policy makers are rightly worried about consumer and investor abuses, as well as illicit use.

 Almost nobody prices goods in Bitcoin.

Few use them for payments, and as a store of value, they are no better than gambling in a casino.