There is no doubt that cryptocurrencies have come a long way over the past few years and are now legitimately regarded as an important corner of the global financial market. However, it is also important to note, that with the rise in popularity, regulations also become a reality, and that is something plenty of regulators have been planning over the past couple of years. Most recently comes the European Central Bank, or ECB, into the mix.
While it is true that the cryptocurrency community, in general, is against regulation of any kind, it is also true that as the market grows, there are bound to be certain checks and balances. In a new development, the European Central Bank, which is one of the world’s most influential central banks, stated that it is exploring ways in which cryptocurrencies could be monitored.