Unbacked Cryptocurrency: The New Gambling Craze? Insights from a European Central Bank Executive
Fabio Panetta on Regulating Unbacked Cryptocurrencies Introduction Fabio Panetta, a Member of the Executive Board of the European Central Bank (ECB), recently made a case for regulating unbacked cryptocurrencies. He argues that these digital assets should be treated as gambling activities due to their speculative nature. Panetta’s Argument Panetta believes that vulnerable users of unbacked…