Fred Antunes: "Bitcoin should not be like ordinary currencies" – Bits Media

President of the Portuguese Association of blockchain and cryptocurrency Fred Antonese spoke about the regulation of the cryptocurrency industry in the country and the volatility of Bitcoin.

Speaking at the online conference "Cryptocurrencies: A solution to what problem?», Organized Association PortugueSe Association of Digital Law (APDIG), Fred Antunes (Fred Antunes) shared his thoughts about Bitcoin and supervision of cryptocurrencies. He called himself a supporter of regulation until then, So far, it does not interfere with technological innovation and protects investors.

According to Antonese, The foundations of libertarianism are laid down in the cryptocurrency market, supporting the freedom of society as in political, and in legislative. Therefore, the main goal of the cryptocurrency market is to make finances and digital management systems more transparent and fair.

“When some have many privileges, and others do not even have the right to choose or participation - all this is the remnants of the past, which are absent in cryptocurrency space ", - said Antonese.

However, the head of the department of payment systems of the Central Bank of Portugal Rita Bairros (Rita Neighborhoods) considers, that crypto assets cannot be called ordinary currencies, since they do not perform the functions of ordinary money. With market instability, they cannot maintain purchasing power, and given their high volatility, Cryptocurrencies cannot be considered a unit of calculation.

Hence, They cannot be called a tool for maintaining values ​​and a payment tool, even despite the legalization of bitcoin in Salvador, Bairros said. She added, that without a central regulatory organ, Cryptocurrencies are difficult to consider real currencies. This position of the Portugal Central Bank adheres to 2017 of the year.

Antonese objected to this, that bitcoin does not have to be currency. Quicker, It is a digital intangible asset, unprofitable, which people are used to wearing in their pockets. And the volatility of bitcoin is already a myth, since for 13 years BTC have greatly evolved, and its instability depends on that, What currencies it is compared with.

Antonese explained, that in Europe the volatility of bitcoin is perceived in a completely different way, Unlike Turkey or Brazil, where state currencies depreciate:

“Bitcoin will become a salvation for citizens of countries, suffering from the poor work of the government. Sure, that in the next few years, Bitcoin will be recognized as a legal payment tool even in large economies ".

Note, that in Portugal, operations with cryptocurrencies are not subject to value added tax (VAT), Due to which the country is considered the most attractive for owners of crypto assets.