9/27, 2:27 PM (Source: TeleTrader)
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Lagarde: Cryptos 'disrupting' traditional banking systems

European Central Bank (ECB) President Christine Lagarde hinted on Tuesday, speaking at a high-level panel, organized by Banque de France, that cryptos are "disruptive" to the traditional central banking systems and underlined that the creation of a digital euro is needed.

"There should not be an environment where central banks are not involved. We don't want to go back to the free banking era of old," Lagarde stressed.

The ECB president shared that if the central banks are "not involved in experimenting and innovating in terms of digital central bank money, we risk losing the role of anchor."

Baha Breaking News (BBN) / AY