Gabriel Makhlouf, Governor of the Central Bank of Ireland, argued that investing in cryptocurrencies is a gamble.
The progress of cryptocurrencies has divided countries and governments in two. Many countries and institutions consider cryptocurrencies to be usable and positive. On the other hand, there are countries that stand out with their prohibitions and repressive approaches. In the midst of all this, the Governor of the Central Bank of Ireland, Makhlouf, made striking statements. The president treated cryptocurrencies as gambling.
Irish Central Bank Governor Strikes Cryptocurrencies
Gabriel Makhlouf, Governor of the Central Bank of Ireland, said that he sees investments in cryptocurrencies as gambling.
The Chairman addressed the risks posed to individual customers by the Bank of Ireland’s unsupported cryptocurrencies. Makhlouf stated that he is very concerned about the risks of cryptocurrencies.
Makhlouf delivered a speech to the Irish parliamentary committee. Here, the President said that “crypto assets have no social value whatsoever and resemble ponzi schemes.”
In addition, Makhlouf argued that investors are actually gambling by investing in cryptocurrencies. Makhlouf, who kept the crypto coins on the ball, said;
“When you gamble you can win, but most of the time when you gamble you really lose. If people want to gamble, we should let them gamble.”
These critical statements of the Central Bank of Ireland Governor Makhlouf drew attention.
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