European Central Bank president Christine Lagarde has stated, according to Bloomberg, that crypto-currencies should be regulated to steer people away from speculating on them with their life savings.
The ECB president stated that she’s concerned about people who have no understanding of the risks, who will lose it all and who will be terribly disappointed. As Bloomberg later contextualizes, Lagarde’s comments come to the public discourse while digital currencies Bitcoin and Ether fell 50% from 2021’s peak. At the same time, crypto is facing higher scrutiny from regulators worried about the dangers it may pose to the broader financial system.
Lagarde said she’s skeptical of crypto’s value, contrasting it with the ECB’s digital euro -- a project that may come to fruition in the next four years.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now
We welcome comments that add value to the discussion. We attempt to block comments that use offensive language or appear to be spam, and our editors frequently review the comments to ensure they are appropriate. If you see a comment that you believe is inappropriate to the discussion, you can bring it to our attention by using the report abuse links. As the comments are written and submitted by visitors of the The Paypers website, they in no way represent the opinion of The Paypers.