Home / Cryptocurrency / Allianz asks Ban Crypto after calling Bitcoin a & # 39; Buy & # 39; under $ 5K

Allianz asks Ban Crypto after calling Bitcoin a & # 39; Buy & # 39; under $ 5K

The CEO of Allianz has asked global regulators to ban cryptocurrency, contradicting the company's chief financial adviser, according to which Bitcoin would be a good buy under $ 5,000 at the start of this year.

& # 39; You should put it out of the law & # 39;

The CEO of Europe's largest asset manager Allianz Global Investors Andreas Utermann expressed his thoughts on regulating digital assets, believing that global lawmakers should ban it altogether, New York Times relationships. He reasons that the crypto-assets have wiped out people's savings this year in a one-year bear market.

"You should put it out of law," he said. "Personally surprised that the regulators have not made themselves harder".

Apparently the executive does not realize that governments can not simply "turn off" Bitcoin at the protocol level. Indeed, Bitcoin has been specifically designed to be a censorship-resistant money that is free from external influences, as well as governmental and central bank politics.

Utermann made his comments during a discussion in London this week, sitting next to Andrew Bailey, head of the British Financial Conduct Authority (FCA). While Bailey said that Utermann's approach is "strong enough", he also added that cryptographic resources do not have "intrinsic value".

In March of this year, the FCA created a task force to investigate the benefits and risks of digital currencies.

Direct contradiction

Apart from the CEO, Allianz as a company was apparently receptive of cryptocurrencies, however. In July, a spokesman for the company Christian Weishuber revealed that Allianz is exploring products in the field of cryptographic resources, particularly in the insurance sector.

"Insurance for cryptocurrency storage will be a great opportunity. […] Digital resources are becoming more relevant, important and prevalent in the real economy and we are exploring product and coverage options in this sector, "he said.

In particular, however, the recent statement by Utermann contradicts Mohamed El-Erian, Chief Financial Advisor of Allianz. Just a few weeks ago, El-Erian said:

I think that the cryptocurrencies will exist, they will become more and more widespread, but they will be part of an ecosystem. They will not be dominant as some of the early adopters believed they were.

The financial expert also expressed his views on Bitcoin in June, stating that it is an important purchase opportunity if the price of BTC 00 drops below $ 5,000.

What do you think of the contradiction between the CEO of Allianz and the position previously attested by the company? Do not hesitate to let us know in the comments below!

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