The tough stance on digital assets was taken by a European Central Bank (ECB) official who called the blockchain business "lawless madness".
More stringent regulations should be enacted to protect investors from cryptocurrency "ponzi schemes," according to Fabio Panetta, who has been an ECB board member since 2020.
In his speech, Panetta explained that cryptocurrency evangelists are trying to keep the crypto bubble inflow going by using fantastic stories about the rising prices of crypto assets and promising heavenly winds.
Beware of crypto stories that are too good to be true!!
