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Deutsche Bank says more regulation of cryptocurrencies needed

TechnologyDec 07, 2017 02:00PM ET
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© Reuters. FILE PHOTO: The headquarters of Germany's Deutsche Bank are seen early evening in Frankfurt

BERLIN (Reuters) - More regulation and some degree of security are needed to make cryptocurrencies such as bitcoin a serious new asset class for investors, Deutsche Bank (DE:DBKGn) Chief Investment Officer Christian Nolting said.

** "Cryptocurrencies currently represent a highly speculative and unregulated risk investment," Nolting said in a presentation published on Deutsche Bank's website on Thursday.

** Because most cryptocurrencies are limited, their inflation risk is low, which means they could offer an alternative to inflation-threatened currencies in crisis countries like Venezuela.

** Bitcoin, the world's most popular cryptocurrency, has soared in recent weeks to above $15,000 in what detractors call evidence of a bubble but supporters insist is the start of a new monetary system not dependent on central banks.

Deutsche Bank says more regulation of cryptocurrencies needed
 

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Sam Jennings
Sam Jennings Dec 07, 2017 7:42PM GMT
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The total market cap of cryptocurrencies is now more than 10x that of Deutschebank... and maybe it is now digital currency holders who should be calling for the regulation of Deutschebank...not the other way around.
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