{"id":589659,"date":"2024-10-21T07:31:54","date_gmt":"2024-10-21T07:31:54","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=589659"},"modified":"2024-10-21T14:37:37","modified_gmt":"2024-10-21T14:37:37","slug":"ecb-economists-declare-war-on-bitcoin-sparking-fears-of-regulatory-crackdown","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/ecb-economists-declare-war-on-bitcoin-sparking-fears-of-regulatory-crackdown","title":{"rendered":"ECB Economists Declare \u2018\u2019War\u2019\u2019 on Bitcoin, Sparking Fears Of Regulatory Crackdown"},"content":{"rendered":"

A new paper from European Central Bank (ECB) economists has been described as a “declaration of war” on Bitcoin, sparking concerns of a regulatory crackdown.<\/span><\/p>\n

The paper<\/span><\/a> argues that Bitcoin’s rising value disproportionately benefits early adopters, raising the possibility of aggressive measures such as tax hikes or even bans.<\/p>\n

While the paper, written by ECB economists Ulrich Bindseil and Jürgen Schaaf, is not an official stance, it created a stir on social media.<\/p>\n

“This new paper is a true declaration of war,’’ said Tuur Demeester, head of research at Bitcoin research firm Adamant Research. ‘’The ECB claims that early Bitcoin adopters steal economic value from latecomers. I strongly believe authorities will use this luddite argument to enact harsh taxes or bans.’’<\/p>\n

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1\/ This new paper is a true declaration of war: the ECB claims that early #bitcoin<\/a> adopters steal economic value from latecomers. I strongly believe authorities will use this luddite argument to enact harsh taxes or bans. Check 🧵 for why: pic.twitter.com\/qg31YenTSC<\/a><\/p>\n

— Tuur Demeester (@TuurDemeester) October 19, 2024<\/a><\/p><\/blockquote>\n