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Lagarde Says Crypto Is ‘Worth Nothing’ and Should Be Regulated

  • Digital euro will be safer store of value, ECB president says
  • Comments come amid turbulent times for crypto markets
A Bitcoin sits among twisted copper wiring inside a communications room at an office in London, U.K.
A Bitcoin sits among twisted copper wiring inside a communications room at an office in London, U.K.Photographer: Bloomberg Creative Photos/Bloomberg
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European Central Bank President Christine Lagarde said crypto-currencies are “based on nothing” and should be regulated to steer people away from speculating on them with their life savings.

Lagarde told Dutch television that she’s concerned about people “who have no understanding of the risks, who will lose it all and who will be terribly disappointed, which is why I believe that that should be regulated.”