European Central Bank ( ECB) board member Fabio panettadescribed crypto as a harmful product that does not benefit society.
Crypto moneyshas been attracting a lot of attention lately. Crypto The rises experienced by the currencies pave the way for the investors to return again. bitcoin, exceeding 31 thousand dollarsIt started giving bullish signals. Crypto marketalthough it has improved, the negative views of many actors have not changed.
ECBmember of the board of directors Fabio panettaHe stated that instead of turning into an innovative form of finance, crypto has turned into a harmful form of finance. panetta, krypton thinks it is harmful to society.
ECB Official: Crypto Turned into Gambling!
European Central Bank ( ECB) board member Fabio panettaHe stated that crypto assets have turned into gambling due to their volatile nature. panettaargued that global regulators should address crypto specifically.
Notable for its anti-crypto statements panetta, said:
Policy makers should be wary of supporting an industry that has so far provided no societal benefit and is increasingly trying to integrate itself into the traditional financial system, both to gain legitimacy as part of it and to lean on it.
holding tight panetta He stated that security and decentralization on the crypto side will not succeed and therefore a clear regulation is needed. Highlighting the collapse of BTC last year panettaclaimed that although crypto seems innovative, it has taken on a structure that is harmful to society.
panettastated that the crypto ecosystem is full of glitches and that these glitches can be remedied with regulatory measures.
