On a Dutch television programme aired Sunday, European Central Bank President Christine Lagarde said cryptocurrencies are "worthless," calling for more regulation of what she called "extremely speculative assets."

Lagarde said,
<blockquote><em>"My very humble assessment is that [cryptocurrency] is worth nothing. It is based on nothing; there are no underlying assets to act as an anchor of safety."</em></blockquote>
Lagarde's remarks come when the crypto market is highly volatile; Bitcoin's price has dropped around 20% in the previous month, while the whole crypto market cap has fallen nearly 30%.

https://twitter.com/CryptoTraderPro/status/1528553837258100736

The French economist distinguished between cryptocurrencies and the proposed digital Euro project, which might be deployed within four years, claiming that the European Central Bank guarantees the latter's worth.

Lagarde also addressed interest rates, stating that the ECB is considering a 25-basis-point increase in July, downplaying other European central banks' more extreme 50-basis-point increases.
<h2>Europe is Ready to Launch its Own Virtual Currency, the Digital Euro</h2>
The European Commission has now stated that it intends to introduce legislation by early next year that will establish the legal underpinning for the digital euro. The move comes as central banks worldwide try to develop their virtual currencies based on blockchain technology to compete with the massive popularity of cryptocurrencies like Bitcoin. Banks now fear being left behind as the notion is embraced by an increasing number of investors and entities worldwide.

The ECB Christine Lagarde Says Cryptocurrency is Worthless

On a Dutch television programme aired Sunday, European Central Bank President Christine Lagarde said cryptocurrencies are "worthless," calling for more regulation

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The ECB Christine Lagarde Says Cryptocurrency is Worthless

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