While several institutional investors have hyped Bitcoin in recent times, conventional banking officials have castigated the digital asset. About two weeks ago, Christine Lagarde, president of the European Central Bank, called for global Bitcoin regulation, as reported by Reuters. Barely two weeks later and Bailey is preaching doom for cryptocurrencies. He said:
Bailey believes that in place of legacy cryptocurrencies like Bitcoin and Ethereum, CBDCs will tick all the unchecked boxes of their decentralized counterparts – price stability, privacy, and the ability to track illicit transactions.
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Source: Cryptocurrency - investing.com
