Lagarde's Son's Crypto Loss: ECB Chief's Admission

European Central Bank President Christine Lagarde admitted that her son lost "almost all" of his investments in crypto assets, despite her warnings against them. Lagarde has been critical of cryptocurrencies, considering them speculative and often used for illicit activities. The ECB has called for global regulation of crypto assets to protect consumers and prevent funding for terrorists or money laundering. The bank is currently in the preparation phase for its own digital euro project, but it will take another two years before a decision is made on its rollout. Lagarde emphasized her low opinion of cryptocurrencies and the need to prevent participation in criminal activities.