Mario Draghi has dashed Estonia’s dream for a state-issued cryptocurrency

Bitcoin, the original stateless cryptocurrency, has often been tolerated and sometimes embraced by governments, central banks, and other key institutions around the world. But there is a limit to some officials’ acceptance of cryptoassets.

The president of the European Central Bank yesterday rejected the idea that Estonia, which is part of the euro zone, could issue and manage its own state-backed cryptocurrency. The idea is still theoretical, but ECB president Mario Draghi shot it down...

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