German economist: cryptocurrencies of possible triggers of the next financial crisis

In view of the increasing spread of cryptocurrencies such as Bitcoin, the economist Marcel Fratzscher warns of the possible consequences of lack of regulation. “We do not need a crypto -friendly, but an effective regulation,” the President of the German Institute for Economic Research (DIW) told the “Spiegel”. “Otherwise, cryptocurrencies could be triggered by the next financial crisis.” U.S. President Donald Trump has announced comprehensive relief for crypto companies in the United States after his election victory. The industry had supported the US election campaign with millions of donations.