There President of the ECB sharp criticism of the cryptocurrenciesadding that they should be regulated to prevent people from “specifying on us with their savings”. Christine Lagarde spoke on the subject during an interview with a Dutch television.
“I’m afraid a lot of people don’t understand the risks of these assets,” she said. “They are people who risk losing everything they have and will be terribly disappointed, which is why I think they should be regulated.”
On the other hand, the ECB president confirmed that the central bank is still working on its proposal for the so-called digital euroan issue that – with reference to dollars – is also being discussed by his colleagues at the Federal Reserve.
“My humble opinion is that” they are worth nothing» he added again regarding cryptocurrencies. “They are based on nothing, there is no underlying asset that guarantees their value and escapes a lifeline.”
The digital euro would be different. Because? It is guaranteed by the ECB’s authority, Lagarde explains. “The day we have the digital currency, the digital euros, I guarantee you it will be different from all these things because it will all happen with the guarantees that the ECB provides.”
It is not the ECB’s first cryptocurrency outing, Bloomberg recalls. As early as April, Fabio Panettaan Italian member of the central bank’s board of directors accused cryptocurrencies of creating “a new far west”, a parallel to the subprime crisis of 2008.
Bitter irony, Christine Lagarde explained that she still follows the trend of the cryptocurrency market with extreme attention. For a very personal reason, “My son drove over us and ignored my advice,” he said. “I am his mother, but he is a free man.”
Source: Lega Nerd