“Cryptocurrencies Are Suspicious And Speculative,” Says Christine Lagarde

HIGHLIGHTS

  • The President of the European Central Bank, Christine Lagarde, is anti-crypto.
  • Digital currencies, according to Lagarde, are not as trustworthy as actual money.
  • Cryptocurrency is prohibited in some nations, including Russia and China.

According to sources, Christine Lagarde, the President of the European Central Bank, described cryptocurrencies as “highly speculative and suspicious,” dismissing their trustworthiness.

I think we have to distinguish between cryptos that are those highly speculative, suspicious occasionally, and high intensity in terms of energy consumption assets, but they’re not a currency.— SAid lagarde

The bank’s chief executive spoke out against the up-and-coming digital currencies while also sharing her thoughts on whether cryptos will be advantageous to the global economy in the future.

The opinions of Lagarde on cryptocurrency are shared by a number of other central banks throughout the world.

She also mentioned that crypto transactions use a lot of energy and that cryptocurrencies aren’t actual currency.

“Instead of having banknotes and cash in our pockets in our wallets, we can have exactly the same thing but in a digital form so all of us are working on this and certainly I was keen to push the issue, the CBDC issue, on our agenda because I believe that we have to stand ready for that,” she further explained.

COUNTRIES RESTRICTING CRYPTO ACTIVITIES

Countries such as Russia and China have recently increased their criticism of cryptocurrencies.

Many governments, including China, Russia, Morocco, and Bolivia, have expressed worry about the international transfers of these untraceable cryptocurrency for nefarious objectives that could jeopardise national security.

Right after the interview with bloomberg, Mrs. Lagarde was badly thrashed by crypto supporters on twitter.

A user mocked her by sharing previously stated statements by many personalities about various things.

Another user wrote that he will “trust running a bitcoin rather than her bank’s suspicious activities.”

For more interesting and informative Twitter Talks and News, stay connected.

Please follow and like us:

Related Articles

Facebook
Twitter
Telegram