European Central Bank Board Member Fabio Panetta said that recent events have revealed weak points in the crypto money industry.
Speaking at an event in London, Fabio Panetta commented on the developments in the crypto money industry. “Balloons burst in a row” he said he started.
According to the European Central Bank executive, industry-wide collapses “how incredibly poorly run businesses are” revealed.
In addition, according to Panetta, all these events experienced by crypto money companies, “Finance cannot be something that does not require trust and remains stable at the same time” is showing.
ECB manager, cryptocurrencies “properly regulated and taxed” stating that only Central bank-issued (CBDC) digital currencies can protect people from risk. stressed.