Cryptocurrency Is ‘Based on Nothing,’ Should Be Regulated, ECB’s Lagarde Says

  • President of the European Central Bank Christine Lagarde has insisted that unlike a digital euro, cryptocurrency has no underlying asset.
  • It should be regulated to prevent people from losing their life savings by speculating on crypto assets, the top ECB official has suggested.
  • Speaking to Dutch TV, Lagarde admitted she is skeptical about the value of crypto assets, as opposed to a central bank digital currency such as the digital euro, which the European Central Bank is planning to issue within the next few years.