Hace un par de días, Fabio Pannetta, miembro de la junta ejecutiva del Banco Central Europeo, dio una charla en la Universidad de Columbia con eje focalizado en las criptomonedas. No es nada nuevo las opiniones en contra de miembros del BCE, a la vez que otras facciones intentan regular las criptomonedas en posiciones que oscilan entre ser parecidas y ser antagónicas. No obstante, es interesante ver, aunque sea por n-ésima vez, los pareceres de aquellos en posiciones relevantes en las instituciones europeas.
Sin más dilación algunas de las perlas con las que me he quedado (en inglés):
Crypto evangelists promise heaven on earth, using an illusory narrative of ever-rising crypto-asset prices to maintain inflows and thus the momentum fuelling the crypto bubble.
Crypto-assets are bringing about instability and insecurity – the exact opposite of what they promised. They are creating a new Wild West.
Like in a Ponzi scheme, such dynamics can only continue as long as a growing number of investors believe that prices will continue to increase and that there can be fiat value unbacked by any stream of revenue or guarantee. Until the enthusiasm vanishes and the bubble bursts.
Crypto-assets are widely used for criminal and terrorist activities. It is estimated that the amounts of crypto-assets exchanged for criminal purposes are substantial, exceeding USD 24 billion in 2021.[20] Research suggests that as much as USD 72 billion per year, or about 23% of all transactions, is associated with criminal activities.[21] Ransomware attackers usually demand crypto payments.
Crypto-assets may also be used for tax evasion or to circumvent sanctions.
So crypto-assets are speculative assets that can cause major damage to society. At present they derive their value mainly from greed, they rely on the greed of others and the hope that the scheme continues unhindered. Until this house of cards collapses, leaving people buried under their losses.
We should bring taxation on crypto-assets into line with the taxation of other instruments and aim for alignment across jurisdictions, given the global nature of the crypto market.
There could also be a case for higher taxation of some crypto-assets – such as those based on PoW – above and beyond the taxation of other financial instruments. Negative externalities that lead to sunk costs for society, such as high pollution, could be factored into appropriate taxes levied on participants in crypto markets (issuers, investors and service providers).
Hay más, pero no se trata de replicar aquí el 90% de la charla …
Ver:
https://www.ecb.europa.eu/press/key/date/2022/html/ecb.sp220425~6436006db0.en.html