Highly outspoken crypto critic Christine Lagarde’s son has jumped into the crypto market, notwithstanding her concerns. The ECB (European Central Bank)’s President repeated her hostile point of view regarding cryptocurrencies, asserting that nothing supports these assets and therefore some stringent regulation should confine them. However, she disclosed that one among her sons went on to invest funds into the market of digital assets.
Jumping into crypto against mother’s instructions
Several central bank-related officials have condemned the crypto sector during the previous years. The President of the ECB as well as a politician from France is also among them. In her latest interview, it was declared by her that no core value is possessed by digital assets and nothing is there on which they can hold on. In addition to this, she debated that Bitcoin, as well as altcoin investment, could result in a disappointment for the people who are a part of the industry which is deficient in some adequate rules governing it.
Without any surprise, she acknowledged that no investment in the crypto has been done by her, elaborating that she acts per what she says. Nevertheless, it appears that her son could not be stopped by her advice from getting his portfolio diversified with several digital assets. She, while pointing toward this, stated that he has free will. While a skeptical stance is maintained by her regarding crypto, she is not against CBDCs. As per her, some strategies have been taken by the ECB to launch a CBDC to represent the euro digitally.
Former statements of Lagarde
She revealed that the coming four years could be spent on the respective project which would be considerably different than Bitcoin. She clarified that the moment when the launch of a euro-based CBDC will be witnessed, it will be supported by the central bank. In recent January, the President categorized BTC as a considerably speculative asset with being potentially utilized in criminal operations. In this way, it requires to be regulated under a resilient agenda.
After a month, she put more stress on her perspective, anticipating that the primary digital asset does not have any future. She considers that not even a remote chance is available that the cryptos would be held by the central banks. Shortly after the declaration by the Russian president to initiate an invasion of Ukraine, she recommended proper regulation, as the USA and EU-based financial sanctions could be evaded by Russia.
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