Allianz GI CEO Calls for the Banning of Cryptoassets

At a panel discussion in London this week, Allianz Global Investors CEO Andreas Utermann called to have cryptoassets outlawed and said that he was surprise that regulators have not stepped in harder

The head of one of Europe’s largest asset managers wants global regulators to ban cryptoassets, blaming them for wiping out people’s savings.

In response to Utermann’s comments, head of Britain’s Financial Conduct Authority, Andrew Bailey said that they did step in quite strongly and added that cryptocurrency had “no intrinsic value”.

 

Source: Reuters

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