Burkhard Balz, German Central Bank’s representative, stated that financial stability is not under danger from cryptocurrencies. The talk regarding the matter, on 9th of July 2019, with the European Parliament has been reported on the Central Bank of Germany channels including websites and other mediums. Burkhard Balz, Member of the Executive Board of the Deutsche Bundesbank, is of the view that crypto coins are whatsoever not a threat to monetary or financial stability. Balz further explained that a situation gets created when the proper channel is not followed, such as where there are no international standards which these virtual token
