Norway’s finance minister expects cryptocurrencies to end frequent volatilities at some point and gain “breakthroughs,” according to Bloomberg. The finance chief Jan Tore Sanner still says he wouldn’t advise consumers to enter the crypto market.
Remarks by Sanner are less critical compared to other top monetary authorities in countries such as the U.S, China, and EU who have warned against crypto assets.
The finance minister doesn’t see cryptocurrencies becoming mainstream unless regulations are put in place.
Sanner wants people to be free to choose if they invest in bitcoin given the growing interest.
Norway’s central bank governor Oystein Olsen has been a bitcoin critic although top corporate empires including Aker ASA are warming up to bitcoin adoption.
Norway ranks as among the most cashless societies and this week adopted new registration requirements for crypto asset providers to curb money laundering.
Central banks and monetary authorities warn of fundamental flaws in crypto design even as they seek their own digital assets in the anticipated cashless world.
Bitcoin is currently gaining. BTCUSD is up 4.20%
