ECB President, Christine Lagarde made anti-crypto comments on “The David Rubenstein Show: Peer-to-Peer Conversations“. On the issue of crypto’s global purpose and whether it’s too early to determine one, Lagarde claimed that the decentralized sphere is supported by a highly speculative asset class, which stands nowhere close to the definition of currency.
“Cryptos are not currencies, full stop. Cryptos are highly speculative assets that claim their fame as currency, possibly, but they’re not. They are not…I think we have to distinguish between cryptos that are those highly speculative, suspicious occasionally, and high intensity in terms of energy consumption assets, but they’re not a currency.”, she said.
ECB President on Stablecoins
The ECB President also discussed the issues related to stablecoins. Lagarde highlights that Stablecoins are expanding at a rapid pace with the help of big data. However, she argues that regardless of being different from mainstream coins
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