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Daily Express logoBitcoin sparks EU panic as Lagarde's furious attack exposes 'widespread misunderstanding'
The President of the European Central Bank (ECB), Christine Lagarde, has announced she wants to regulate cryptocurrencies. Ms Lagarde expressed her concerns and scepticism, saying: "It is not a currency. Cryptocurrencies are not money. "It is a highly speculative asset."
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The ECB President then underlined the lack of guarantees of real stability, as in the case of the euro or the dollar.
Explaining the risks consumers are exposed to, Ms Lagarde continued: "It is imperative that, if an activity is carried out by a private actor, this activity, if it is similar to money, is subject to exactly the same rules, exactly the same rations, exactly the same control mechanisms.