President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset. It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested.
Cryptocurrency Is ‘Worth Nothing,’ ECB Governor Claims
The head of the eurozone’s monetary authority, Christine Lagarde, maintains that cryptocurrencies are “based on nothing,” and is concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed, which is why I believe that that should be regulated.”
Speaking to Dutch TV, Lagarde admitted she is skeptical about the value of crypto assets, as opposed to a central bank digital currency (CBDC) such as the digital euro, which the European Central Bank (ECB) is planning to issue within the next few years. Regarding cryptocurrency, she also stated:
My very humble assessment is that it is worth
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