THELOGICALINDIAN - The admiral of the European Central Bank ECB Christine Lagarde warned that cryptocurrencies are decumbent to money bed-making She agrees with the governor of the Bank of England Andrew Bailey who afresh said that cryptocurrencies accept no built-in amount and investors should be able to lose all their money if advance in them
ECB Chief Lagarde Sees Crypto as a ‘Real Risk’ for Investors
European Central Bank (ECB) arch Christine Lagarde talked about cryptocurrency Friday during a webinar hosted by the European University Institute. She said:
Lagarde added acclaimed that “There are crypto assets … which bodies are chargeless to advance in and booty absolute accident into, and there are accurate cryptos that are, in my view, so decumbent to money bed-making activities.” She did not acknowledgment any cryptocurrencies by name.
When asked whether the ECB is aggressive with cryptocurrencies with its agenda euro, Lagarde said that cryptocurrencies are altered from stablecoins and axial coffer agenda currencies (CBDCs). By advance in cryptocurrencies, the ECB arch emphasized that “it’s a absolute accident that bodies are taking,” citation the coffer of England governor, Andrew Bailey.
Bank of England governor Andrew Bailey said at a columnist appointment Thursday that cryptocurrencies “have no built-in value.” However, he noted: “That doesn’t beggarly to say bodies don’t put amount on them, because they can accept acquired value. But they accept no built-in value.”
A longtime crypto skeptic, the Bank of England arch reiterated:
The U.K.’s banking regulator, the Banking Conduct Authority (FCA), analogously said in January that “Investing in cryptoassets, or investments and lending affiliated to them, about involves demography actual aerial risks with investors’ money … If consumers advance in these types of product, they should be able to lose all their money.”
This is not the aboriginal time that Lagarde accurate apropos about money bed-making apropos to cryptocurrencies. In January, the ECB admiral said that cryptocurrency is “a awful abstract asset, which has conducted some funny business and some absorbing and absolutely amiss money bed-making activity.”
Her comments affronted abounding in the crypto community. Daniel Lacalle, armamentarium administrator and arch economist at Tressis Gestion, for example, responded: “That is actually abandoned back we all apperceive that the all-inclusive majority of money bed-making globally is conducted in authorization currencies, decidedly in U.S. dollars and euros.”
What do you anticipate about Lagarde’s comments about bitcoin and added cryptocurrencies? Let us apperceive in the comments area below.
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