Crypto Assets Are Absolutely Not Currencies, According to European Central Bank President Christine Lagarde.
18 Sep 2021, 08:00
Crypto Assets Are Absolutely Not Currencies, According to European Central Bank President Christine Lagarde
European Central Bank (ECB) president Christine Lagarde is drawing a hard line between crypto assets and traditional currencies.
In a new interview on the David Rubenstein show, Lagarde lays out why she believes the word “cryptocurrency” is a misnomer.
“Cryptos are not currencies – full stop. Cryptos are are highly speculative assets that claim their fame as currency, but they are not.
I think we have to distinguish between cryptos that are highly speculative, suspicious occasionally, and high-intensity in terms of energy usage. Assets, but not a currency.”