Derville Rowland, one of the top officials at Ireland’s central bank, has joined an array of regulators and traditional financial market experts to sound an alarm against the cryptocurrency boom. She said that the recent rise in popularity of cryptos like Bitcoin is ‘of great concern’, Bloomberg reported.
In an interview, she highlighted that crypto assets are ‘quite a speculative, unregulated investment’. Further, she warned investors to be cautious as they can lose all of their investments.
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Rowland is an extremely strong voice within the European regulatory space. She heads the Irish monetary regulator’s division that imposed heavy fines to some of the biggest lenders operating in the country and will take over as the chairwoman of the European Securities and Markets Authority’s investment management standing committee, which helps in preparing regulations for the fund’s industry.
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