European Central Bank (ECB) Executive Board member Fabio Panetta (pictured left) said on Wednesday that "multiple bubbles are bursting one after another" across the cryptocurrency world.
Delivering a speech at the Insight Summit held at the London Business School, he stressed that the recent collapses in the crypto industry showed "unbelievably poor business and governance practices" and proved that "finance cannot be trustless and stable at the same time."
Panetta called for an "adequate regulation and taxation" of crypto assets, but also underlined that "only digital central bank money can provide" a "risk-free and dependable digital settlement asset."
