Virtual Currencies To Go Down as ‘Load of Nonsense,” Says ECB's Hansson

Crypto currencies will probably die as a “complete load of nonsense,” according to European Central Bank policy maker Ardo Hansson.

“The bubble has already started to collapse and maybe we should just see how far this collapse goes, and what is left when we’ve reached a new kind of equilibrium,” the Estonian central-bank governor told a conference in the Latvian capital of Riga. “I think we will come back a few years from now and say how could we ever have gotten into this situation where we believed this kind of a fairy-tale story.”