Central Bank of Ireland Director Voices Concerns About Cryptos

Europe Ireland

Speaking during a presentation at the BitFin conference in Dublin, Gareth Murphy a member of the senior team at the Central Bank of Ireland voiced his concerns about cryptocurrencies potential to be used for illicit activities such as money laundering and tax evasion.

Murphy’s presentation titled “Regulating Virtual Currencies” called cryptos “a substantial threat to the country’s finances” and urged regulators to stop playing cat-and-mouse and cast a regulatory net over cryptos.

He then went on to talk about customer protection issues which should be addressed with proper legislation and systems introduction.

About the author

Maciek Klimowicz

Maciek Klimowicz

A seasoned writer and editor with 10 years of experience in a variety of print and online media. Recognizing the transformative potential of the blockchain technology, Maciek has now put his pen to work to explore the key issues of this fast-evolving sector. Contact him on [email protected].

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