ECB presidentChristine Lagarde heavily criticized cryptocurrencies in a Dutch student-led interview.- Lagarde said digital tokens were "worth nothing" and "based on nothing."
European Central Bank President Christine Lagarde on Saturday criticized cryptocurrencies, saying they are "worth nothing," and should be regulated to protect people from depleting their life savings.
$4, Lagarde said: "What I'm really concerned about when it comes to
Those people, she said, have "no understanding of the risks, who will lose it all, and who will be terribly disappointed, which is why I believe that that should be regulated."
Saturday's comments come after an intense sell-off across the crypto
At the height of the sell-off,
"My very humble assessment is that it is worth nothing, it is based on nothing, there is no underlying asset to act as an anchor of safety," Lagarde said, $4.
Lagarde has expressed her reservations over cryptocurrencies in the past, calling for more regulation on bitcoin, the most widely traded digital coin. Last year, she said she $4, adding that central banks won't be holding it in their reserves anytime soon.
"It's very unlikely — I would say it's out of the question," Lagarde said. She added the token has been used for some $4 including money laundering.
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