Governor of the Central Bank of Ireland: Cryptocurrencies "Have No Social Value", Proposes Ban on Advertisement of Cryptocurrency to Young People
Blog iconPhoenix
Jan 26
Central Bank of Ireland Governor Gabriel Makhlouf told lawmakers at a parliamentary meeting in Dublin on Wednesday that the central bank is "very concerned" about the risks retail customers face when investing in "unbacked" cryptocurrencies, according to Bloomberg. He added that cryptocurrencies "do not have any social value" and that unbacked cryptocurrencies are essentially a Ponzi scheme. Those who put money into unbacked cryptocurrencies are essentially gambling. In addition, the Irish ce...

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