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Lagarde Questioned On Crypto and Italy/TPI

ECB
  • Q: On Crypto, should they be regulated, are you worried that big tech companies could announce their own cryptocurrency? Also, markets have become calm around Italy, do you think TPI is having an impact?
  • A: Crypto assets need to be regulated on a global basis. We are clearly seeing that the lack of regulation is exposing consumers around the world.
  • Re TPI: it's a tool in the toolbox that together with reinvestment flexibility is intended to ensure mon policy is transmitted smoothly across the entire euro area. It's currently well transmitted. But it's a tool we have available that we will use if necessary.

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