The head of the central bank of Portugal Helder Rosalino said that the financial regulator does not consider crypto currency as a currency, because they do not meet the necessary characteristics. He said this in an interview with the Portuguese edition of ECO.

In his opinion, bitcoin is not a means of saving capital and can not be used for lending, which are the main characteristics of the fiscal currencies that are issued by central banks. Regulators do not issue digital currencies and do not regulate their turnover, which deprives them of the ability to provide credit operations.

At the same time, like many other critics of bitcoin and the market of crypto-currencies, Rosalino highly appreciated the technology of blockade and the possibilities of fintech.

"Crypto currency is a computerized solution on a powerful technological basis, on a fantastic technology of blocking, allowing payments without intermediaries. This allows you to carry out P2P transactions without an intermediary outside the financial system. But I'm not talking about coins as such. We recognize that this is an explosive innovation, but we also soberly assess the risks, "said the head of the central bank.

He is convinced that due to limited emissions, crypto-currencies are subject to speculation on the growth of demand, which leads to high volatility of price indices. Rosalino believes that the central bank's duties include training and consumer protection.

The head of the regulator also stressed that legal obstacles can stand in the way of free exchange of digital currencies for fiat money. In addition, law enforcement agencies are exploring a new market in connection with the risks of fraud and money laundering, while the central bank assesses the "new reality".