Regulation
Irish Central Bank Chief Makhlouf ‘Very Concerned’ About Crypto
- Governor warns investing in crypto ‘essentially gambling’
- Says he favors adverts aimed at specific consumers be banned
Gabriel Makhlouf
Photographer: Vivek Prakash/BloombergThis article is for subscribers only.
The Central Bank of Ireland is “very concerned” about the risks posed by unbacked cryptocurrencies to retail customers, its governor said.
Such assets offer “no social value whatsoever,” Gabriel Makhlouf told an Irish parliamentary committee on Wednesday, likening them to Ponzi schemes.