European Central Bank President Christine Lagarde has said digital currencies are based on nothing and should be regulated to drive people away from speculating with their savings.
Lagarde told Dutch television, reported by Bloomberg, that she was concerned about people who lacked an understanding of risks, who would lose them (currencies) and be very disappointed, So I think it should be regulated.
Lagarde's comments come at a time of huge volatility in the cryptocurrency market, with Bitcoin and Ether declining in value by nearly 50% compared to their previous levels. Peak over the past week.
At the same time, the asset class (a group of investments with similar characteristics and subject to the same regulations) is subject to scrutiny by regulators against the background of the risks it may pose to the financial system across the board. Wider.
She was skeptical about the value of digital currencies, in contrast to the "digital euro" - a project that is expected to come to light in the next four years.
My modest assessment is that (cryptocurrencies) are worth nothing, are based on nothing, there is no underlying asset that can be safe land,' Lagarde said.
The day we have an ECB digital currency, a digital euro, I'll guarantee it - meaning the central bank will be behind it, I think there's a big difference About many of these things.
