Regulators should treat crypto trading as gambling – Panetta

Fabio Panetta
Fabio Panetta

Fabio Panetta, executive board member at the European Central Bank, has forcefully criticised crypto assets for lacking both social and monetary value.

But – in a break with some of his colleagues – he argued that their self destruction is not assured. 

The crypto industry has seen a succession of cataclysmic implosions, notably with the May 2022 collapse of stablecoin Terra, and the recent fall of exchange FTX, slammed as “one of the biggest frauds in financial history”.

One of the largest

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