ECB President: Stablecoins need to be regulated

European Central Bank President Christine Lagarde shared her thoughts on cryptocurrencies, stablecoins, and central bank digital currencies (CBDCs) in an interview with Carlyle Group co-founder David Rubenstein on Thursday.

Christine Lagarde said that those stablecoins that are starting to proliferate and some large technology companies are trying to promote these stablecoins are a different species that need to be regulated and there must be corresponding supervision of the actual business they are conducting, no matter what they call themselves.

Regarding CBDC, Lagarde said that instead of having paper money and cash in our pockets, we could have the exact same thing but in digital form, so all of us are working on this and of course I would love to put this issue, the CBDC issue, on our agenda because I think we have to be ready for it.