Adam Farkas, Executive Director of the European Banking Authority, talks about the strong impact digital transformation has had on financial markets.

Virtual currencies: advantage or risk?

Are virtual currencies an advantage or a risk?

Adam Farkas, Executive Director of the European Banking Authority, talked about this in one of our live webinars: they reduce transaction costs, accelerate payment times and allow access to financial services for previously-excluded groups, but they can be used for money laundering and utilize algorithms that are not very secure.

The EBA discourages banks from holding or facilitating the use of these currencies and hopes to bring them within the scope of the EU anti-money laundering directive.

Find out the calendar of upcoming webinars

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