The Director-General of the Bank of Ireland in charge of financial conduct is the latest official to point out the Bitcoin problem (Bitcoin) And the cryptocurrency industry after the major market sell-off.
Derville Rowland of the Central Bank of Ireland warned Bloomberg that the growing popularity of cryptocurrencies like “Bitcoin” is “a lot of concern.” report on Monday.
Roland said: “Encrypted assets are a speculative, unregulated investment,” and investors should “really realize that they may lose all of their investment.” One of the biggest historical cryptocurrency sell-offs.
Rowland’s views on cryptocurrency will contribute to officials’ global supervision of space take over In July, he served as Chairman of the European Securities and Markets Authority’s Investment Management Standing Committee.Earlier this year, the Monetary Authority Outlines the same concerns about encryptionHe pointed out that due to the high volatility of such assets, they are not regulated and bring significant risks to investors.
Rowland is one of the top managers of the Central Bank of Ireland. He is known for his strict stance on violations of financial regulations and his participation in major law enforcement investigations. In March, the Central Bank fined Davy, Ireland’s largest stockbroker, violated market rules and eventually forced the company to sell.
According to reports, in addition to targeting cryptocurrencies, Roland also outlined the “gamification” of stock investment, referring to coordinated transactions through social media platforms (including those driven by Reddit). GameStop briefly squeezed. The official said that ESMA and the Central Bank of Ireland have discussed this issue. Roland said that although there is no timetable for any new rules, the regulations need to be “technologically neutral so that you can’t get better protection in older paper-based processes, but in more online processes.”
Recently, some central bank officials have issued warnings about cryptocurrency investment. In early May, before the crypto market downturn, Bank of England Governor Andrew Bailey warned that Cryptocurrency has no intrinsic value People should only buy them if they are prepared to lose money. last week, Bank of Japan Governor Haruhiko Kuroda criticizes Bitcoin, That most transactions are speculative.