For the ECB crypto-currencies “have no ‘intrinsic value’ and are rarely used as means of payment.”

Fabio Panetta, who is on the executive committee of the European Central Bank (ECB), believes that unbacked crypto-currency assets are gambling vehicles with no intrinsic value, which should be regulated. In an opinion piece, Panetta states that while regulation of crypto-currencies is a good answer to the problem, it must also affect decentralized financial structures. […]