Mugur Isarescu: We have to regulate virtual currencies

Newsroom 25/09/2018 | 11:17

The virtual currencies can not be stopped, but they can be regulated, otherwise we can wake up with a kind of Caritas or FNI, Mugur Isarescu, the governor of the National Bank of Romania, said yesterday.

”I do not feel it tending the string to insist on overregulation, but based on the wisdom of the past, we know that every time the world exploded, was because a lack of regulation or poor regulation, overregulation is different. We can not stop them stop because it’s technology here and it comes quickly and with a lot of advantages, but we have to try to regulate them, ”Isarescu said.

According to the BNR governor, one of the dangers is that of a banking system that is out of control and could be the source of a new economic crisis.

Referring to the situation in 2008, Mugur Isarescu said that ”the foreign exchange reserve saved us”, Romania’s luck being that it has accumulated an important reserve.

The BNR reserve increased because the central bank bought a massive currency when the rate tended to go to ROn 2 and the eentral bank managed to stop it at RON 3.2.