Julio Velarde, the president of the Central Bank of Peru, talked about his opinion and the view the institution takes on cryptocurrencies.
President of Central Bank of Peru Criticizes Crypto, Citing Lack of Intrinsic Value and Climate Change
Julio Velarde, the president of the Central Bank of Peru, attacked the value of cryptocurrencies and referred to negative effects they are said to have on the environment. In a recent interview with local media, Velarde said the Bank did not consider bitcoin a payment method. Instead, Velarde referred to it as a “highly volatile financial asset,” that people purchase for this volatility risk.
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