Bitcoin and other cryptocurrencies have become in 2021 an investment product as fashionable as it is controversial. Central banks, for the most part, are taking a stand against this type of asset, while commercial and investment banks have yet to find their way around it. While some entities, especially in the US, have begun to offer services related to cryptocurrencies, others, such as the Spanish ones, avoid taking positions or even criticize them, waiting to know how they will be regulated in the future. However, the first movements of some banks have motivated the Basel Committee, a regulator that unites central banks and supervisors from around the world, to seek a way to prevent their future growth from becoming a problem for the global banking system.
China and Tesla announcements show crypto volatility that worries supervisors