Germany monitoring bitcoin market impact: FinMin

Reuters News
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Posted: Dec 13, 2017 8:16 AM

BERLIN (Reuters) - Germany is carefully monitoring the impact of cryptocurrencies on markets, a finance ministry spokesman said on Wednesday, as bitcoin surged and the futures of the best known cryptocurrency made their world debut on a U.S. stock exchange.

"The finance ministry, the (Federal Financial Supervisory Authority) BaFin and the Bundesbank are monitoring developments on financial markets attentively and this applies to bitcoins," Dennis Kolberg told a news conference.

He added that he would not comment on the value developments of bitcoin on markets.

"Generally speaking I can say that bitcoins are no legal means of payment and subject to no deposit guarantee," Kolberg added.

(Reporting by Gernot Heller; Writing by Joseph Nasr; Editing by Madeline Chambers)