The Euro 20 Plus was held by the German central bank, the Bundesbank, a few days ago. In her speech, the President of the European Central Bank, Christine Lagarde, once again emphasized the high risks of cryptocurrency investment.
(The President of the European Central Bank criticized cryptocurrencies as "worthless", but did not interfere with his son who bought them)
President of the European Central Bank: My son lost 60% of his money investing in cryptocurrencies
Christine Lagarde said her son lost nearly all of his investments in cryptocurrencies despite her repeated warnings, according to Reuters.
She said:
He ignored my advice, even though it was his right, and he lost almost all the money he invested in cryptocurrencies, about 60%. So when I talked to him about it again later, he reluctantly accepted that I was right.
Christine Lagarde has two sons in their thirties, but she did not reveal which one she was referring to.
She once again reiterated her personal views on cryptocurrencies:
As you all know, I have an extremely low opinion of cryptocurrencies. You are absolutely free to invest, speculate, and prefer your own investments, but the public should not be free to participate in criminally sanctioned transactions and related enterprises.
European CBDC progress is extremely slow
Europe has officially launched the MiCA Act (Markets in Crypto Assets, crypto asset market), a move that was unanimously praised by a number of U.S. crypto business founders.
(European encryption venture capital is growing rapidly, MiCA was overwhelmingly passed, and it fully entered the encryption jurisdiction)
However, the progress of the digital euro is relatively slow. Christine Lagarde previously said that it is trying to resolve the privacy concerns caused by the central bank digital currency (CBDC), pointing out that the CBDC pilot may take another two years before a final decision is made.
(European Central Bank President: Digital euro will take at least two years)
