Lagarde believes that trading cryptocurrencies should be regulated. She is concerned about people investing in cryptos like bitcoins without understanding the risks and could lose everything, resulting in great disappointment. There is no underlying value of those coins to serve as a “safe anchor”, says Lagarde, who has criticized cryptos in the past.
Son is in digital coins
She also said she does not own cryptos herself, but that one of her sons invests in digital coins, against her advice. She can’t stop him because he’s a free man, Lagarde says, but she does keep a close eye on cryptos.
There has been a lot of turmoil in crypto trading lately, with significant drops in value. Another ECB executive recently said that digital currencies are a kind of “Wild West”. He also drew comparisons between digital currencies and the 2008 financial crisis.
podcast
DFT reporters Martin Visser and Herman Stam also discuss the nervousness of investors in shares and cryptos in their weekly podcast ‘A question of cents’. Listen to the podcast herebelow or via all well-known podcast apps, such as Apple Podcasts† Google Podcasts and Spotify†