(ECB) Around 10% of households in the eurozone have bought crypto assets, according to a survey by the European Central Bank.
The ECB research established that retail investors represented the largest part of the investors with crypto holdings. ECB further states that the wealthy were more marginally likely to possess the digital assets in the region.
The research by the European Central Bank comes amid warnings of the financial stability risks of crypto. The central bank warned that the more institutional investors become involved, the threat to the financial system will increase.
The European Central Bank called for global coordination or regulatory initiatives to address the financial stability risks. The central bank called for the creation of new laws “urgently” within the eurozone to govern digital assets.
The ECB report comes at a time its president Christine Lagarde said that crypto is “worth nothing. “Lagarde said that cryptocurrencies are speculative and dangerous investments.
BTCUSD is up +0.15%.
