September 27, 2022

The head of the ECB announced the need to regulate cryptocurrencies

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The President of the European Central Bank (ECB), Christine Lagarde, said that cryptocurrencies are not backed by anything and should be regulated. Bloomberg writes about it.

Lagarde noted that she is very worried about people who do not understand the risks of investing in crypto assets and can lose everything.

In her opinion, cryptocurrencies are “worthless, not backed by anything, they have no underlying asset that could serve as a security anchor.”

The head of the ECB opposed the digital euro to crypto assets, which the regulator can issue before 2026.

Earlier, Lagarde said that all cryptocurrencies and stablecoins meet the definition of speculative assets and the recognition of currencies in them is inappropriate.

In April, the ECB called for global regulation of the crypto market.

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