The CEO of Mastercard attacks Bitcoin and approves the crypto-currencies backed by governments

Ajay Banga, CEO of Mastercard, has launched a broadside attack on all crypto-currencies that are not mandated by governments, calling them ” junk “. The virtual currency, are in fact the main competitors of companies like Mastercard. And when the media asked him his opinion about this technology, it has not been very accurate.

Today, crypto-currencies are growing more and more and attract a large number of investors in the world. If China does not accept this new form of currency, other countries such as Japan or the United States have adopted them.

The currencies that it is necessary to regulate

Currently, the crypto-currency disrupt money market traditional. Moreover, traditional investors and some banks are against the establishment of such currency on the market. The CEO of Mastercard was not entirely against the idea of issuing currencies based on the Blockchain. However, he stresses that these crypto-currencies should be supported by governments.

Ajay Banga has said that if governments regulate crypto-currencies, they will find a way to integrate it into the system of monetary exchange current.

The market of Bitcoin is very volatile

Other institutions have already given their opinion on Bitcoin, Banga also confirms the concerns about the volatility of this digital currency. On the other hand, he added that these crypto-currencies are usually used for illegal activities.

He said that any currency needs stability and transparency. The same as other traditional investors, it has also afraid of Bitcoin.

The division of Wall Street

The division of the great names of Wall Street appears to be imminent. In particular, there is the camp of Jamie Dimon, who called the Bitcoin fraud and other considering this virtual currency as the future of the currency.

Axel Web, former president of the Bundesbank and chairman of UBS, said that many investors ask him often why he is so skeptical about the Bitcoin. He replied that it comes from his experience when he worked in a central bank.

Source : CoinTelegraph