EU Bureaucrats face off with Crypto Twitter

About a month ago, crypto natives were cheering news out of the European Union. A report prepared for the Union’s executive branch recommended a light-touch regulation of decentralized finance and stood in stark contrast to several reports prepared for the White House.

Well, another publication shared by the EU is making waves again in crypto. And the reception has been … a little different.

A 900-word op-ed written by the head of the European Central Bank’s payments division had harsh words for the original crypto currency. Bitcoin is on the “road to irrelevance” he and his co-author wrote.