European Central Bank (ECB) President Christine Lagarde says cryptocurrencies are “worthless”
According to Bloomberg’s May 21 report, ECB Chairman Lagarde said that cryptocurrencies are “based on nothing” and should be regulated to distract people from speculating on their savings.
speaking to Dutch television lagardeexpressed his concern for people who do not understand the risks, who will lose everything and who will be greatly disappointed. “This is why I believe cryptocurrencies should be regulated.” said.
lagardewill be a project that can bear fruit in the next four years.n ECB’s digital euro Compared with skeptical of the value of crypto told:
My humble view of cryptocurrencies is that they are worthless, baseless assets, and have no basis to act as security. I will guarantee that the day we launch the digital central bank currency (CBDC), the digital euro, the central bank will stand behind it. I think this is very different from many things.
lagarde also about whether he has invested in crypto, “I want to implement what I recommend.” He said he has no investments in crypto, but despite his advice, his son is investing in crypto assets. About the subject, “He is a free individual” using the expression lagardehis son’s investments “very carefully following” he stated.
Other ECB officials are already voicing their concerns about cryptocurrencies. Board member Fabio Panetta“In April, crypto assets”created a new Wild West” had said.
Cryptocurrencies have been facing tighter scrutiny in recent days by regulators, who are concerned about the dangers they may pose to the wider financial system.