European Central Bank President Supported Banks, Criticized Cryptocurrencies!

cryptocurrencies, blockchain And as decentralized systems continue to grow, state central banking institutions are increasingly worried.

The Bank of France held a large online panel today where digital technologies were discussed. Leading figures, including Fed Chairman Jerome Powell, attended the panel.

In his speech, Powell talked about digital currencies (CBDC) and decentralized finance (DeFi) in general. Powell’s statements on our site throughout the day and twitter We shared it on our account.

Powell: Decentralized finance needs to be carefully and carefully regulated.

— Bitcoin System (@bitcoinsystem) September 27, 2022

While Powell talked about DeFi, ECB (European Central Bank) President Christine Lagarde focused on “cryptocurrencies and the banking sector”.

“Cryptocurrencies Are Worrying For Central Banks”

President Lagarde, cryptocurrencies He described his progress over the years as “stormy”. Lagarde pointed out that crypto was initially a cultural hype for libertarians, but is so common today that even Mastercard and Visa will use it.

“We don’t know who is behind this mysterious coin. We’re all following what’s going on with Terra/Luna. Even worse situations can happen, cryptocurrencies have no guarantee.”

Lagarde also touched on digital currencies in his speech. The president thinks that the proliferation of countries’ own digital currencies is important in the face of crypto.

Cryptocurrencies pose a worrying situation for central banking, according to Lagarde.

On the other hand, the head of the ECB recently announced that they estimate that 10-15% of people in Europe and the Americas are actively using cryptocurrencies.