Christine Lagarde, the president of the European Central Bank (ECB), has long held that digital currencies need regulations urgently. She has reiterated this stance, adding that digital assets have no value whatsoever.
Politico reports that Lagarde made the latest statement while speaking in an interview with a Dutch television show, College Tour. Digital currencies are just highly speculative and very risky assets, in her opinion, she remarked.
“I have said all along the crypto assets are highly speculative, very risky assets. My very humble assessment is that it is worth nothing. It is based on nothing, there [are] no underlying assets to act as an anchor of safety,” Lagarde said.
Lagarde also talked up how much better a central bank digital currency (CBDC) will be than digital currencies. She highlighted that a CBDC would get value much like fiat currencies by being guaranteed by the central bank that issues it.
“The day when we have the central bank digital currency, any digital euro, I will guarantee it. So the central bank will be behind it. I think that is vastly different from any of those things,” she voiced.
One of the world’s most powerful central bankers, Lagarde, has headed the European Central Bank (ECB) since 2019. She was also the managing director of the International Monetary Fund (IMF) from 2011 to 2019.
While the digital currency market has been showing wild volatility recently, warranting the remark, Lagarde’s comments mirror the…
