ECB president says Crypto has no value

The European Central Bank President Christine Lagarde passed negative comments against cryptocurrencies, to favor the digital Euro.

Christine Madeleine Odette Lagarde born is a French politician, economist, and lawyer. She has been President of the European Central Bank (ECB) since 1 November 2019. ECB agency always remains against cryptocurrencies because of high volatility and possible chances of money laundering.

On 21 May, Politico reported that Christine Lagarde, European Central Bank President, said that digital assets have no value but ECB will give a guarantee to the value of Central Bank Digital Currency (CBDCs), or say Digital Euro.

The ECB president passed such comments during a speech on the Dutch television show College Tour. She said:

“I have said all along the crypto assets are highly speculative, very risky assets.”

Further, she also added:

“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 that Digital Euro will be different from cryptocurrencies and she will guarantee the value of the digital Euro, from the day when it will be introduced to use.

ECB president also emphasized the strong supportive role of the Central Bank to ensure the value of the Digital Euro. 

“the central bank will be behind it (digital Euro). I think that is vastly different from any of those things.”

Reports noted that Lagarde never invested in crypto assets but her son invested a decent amount. These things are pure hints that crypto has room everywhere, even in those places where Global crypto critics exist. This situation is very common with former US President Donald Trump, who hates bitcoin & other cryptocurrencies but his spouse doesn’t hate it. Donald Trump’s wife launched NFTs on the Solana blockchain network. 

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