The Euro 20 Plus, hosted by the German central bank, Deutsche Bundesbank, took place recently. The European Central Bank President Christine Lagarde once again emphasised the high risks associated with engaging in cryptocurrency investments during her speech.
Lagarde has consistently criticised cryptocurrencies, labelling them as speculative, lacking value, and frequently utilised by criminals for unlawful activities.
According to Reuters, Lagarde told a town hall with students in Frankfurt that "he ignored me royally, which is his privilege." Also, "he lost almost all the money that he had invested."
Her Son lost about 60%
"It wasn't a lot but he lost it all, he lost about 60% of it," Lagarde added. "So when I then had another talk with him about it, he reluctantly accepted that I was right."
Lagarde has two sons in their mid-30s but did not specify whom she was addressing.
Concerns from the Government
The ECB's concerns about privately issued currencies potentially replacing government money prompted the launch of its digital euro project. However, the bank is still several years away from issuing any digital currency. It would require an additional two years before a decision could be made on whether to proceed with its rollout or not.