During an interview over the weekend with The Tampa Herald, Christine Lagarde, president of the European Central Bank (BCE), warned about the risks involved in cryptocurrencies, especially for those who do not know the details of how they work.
She stated that “my humble opinion is that cryptocurrencies are worth nothing, they are not based on anything, and there is no underlying asset that acts as a security anchor” in the operations carried out with cryptocurrencies.
Also, that the operations should be regulated because many people do not understand the risks involved, “they will lose everything and be disappointed” in the end with cryptocurrencies.
During the interview, Lagarde revealed that she herself does not own any crypto property, although one of her sons does. “He is a free man,” Lagarde said of her son’s decision.
All this comes in the midst of a moment of extreme difficulty for the cryptocurrency market, which has suffered a crash that has reduced the capitalization by 800,000 million in one month and by 1.3 trillion dollars from maximums.
He also confirmed that the European Central Bank maintains a project aimed at creating a digital euro as a currency. However, he reiterated that the digital euro could start circulating in just four years. Thanks to the support of the ECB, the operation of the future European currency “will be very different” from that of cryptocurrencies.