• The President of the European Central Bank (ECB), Christine Lagarde, has stated that crypto-currencies are “based on nothing”.
• She comments about the crypto market in light of recent volatility.
• The concerns of crypto assets were also voiced by an Executive Board Member at the ECB.

The President of the European Central Bank (ECB), Christine Lagarde, has stated that crypto-currencies are “based on nothing” and that they should be regulated. Her belief is that regulation will stop people from gambling with cryptos using their savings.

In an interview with Dutch television, Lagarde shared her concern with people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed.” She also said in the interview that “I believe that the crypto industry should be regulated.”

These comments are in line with recent volatility observed on crypto markets. Popular digital currencies include …

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