Christine Lagarde: Cryptocurrencies are worthless

The head of the European Central Bank (ECB), Christine Lagarde, has expressed a negative assessment of cryptocurrencies. Politico has published excerpts from a recent interview with Lagarde for television ahead of the show. The head of the ECB called digital assets «speculative and extremely risky investments».

Lagarde emphasized that her assessment of the situation is very modest and that it is actually much more serious: «Digital coins are worthless and lack the validity and underlying assets that can act as a guarantee of market safety.»

The interview was given against the backdrop of the G7 Finance Ministers and Central Bank Governors meeting on May 19 and 20. One of the topics of discussion was the collapse of the Terra (LUNA) crypto system, which resulted in investors losing their savings. The issue of regulating operations with digital assets has become more acute than ever and has prompted supervisory authorities to tighten legislation.