The Minister of economy of Italy fears an «explosion of cryptocurrency bubble»

The Minister of economy of Italy on Wednesday was critical of the cryptocurrency and noted the damage that may cause «explosion bubble», formed on the market, despite the fact that Central banks observe technology.

Speaking during the event in Milan technical University, organized by the energy giant Enel (who last year tested
blockchain for trading electricity), economy Minister Pierre Carlo Padoan (Pier Carlo Padoan) has condemned the price changes in the cryptocurrency market have occurred in recent months.

«Regulators and Central banks are increasingly weighing the feasibility of using cryptocurrency. However, if this phenomenon were to collapse, it could hurt many», said Padoan, according to the report
Ansa Business.

The publication also quoted the words Padoan, that the problem is not technology, but how it is used:

«The blockchain is the technology. Technology is one thing, but how you use it — else,» he said. «The problem is not technology, and behavior.»

Speculation the cryptocurrency has already attracted the attention of the Italian regulators, including the Tax office of the country, which at the end of 2016 beginning to regard
bitcoin as currency, tax-free. The regulators have also taken strict measures against those who promoted the pyramid scheme OneCoin in the country. Everything ran fine for the company in the amount of 2.59 million euros in August last year.

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