ECB President Christine Lagarde stablecoins will lead to the 'privatization of money,' undermining central bankers ‘public good’

European Central Bank president Christine Lagarde (Credit: Horacio Villalobos Corbis/Getty Images)

• European Central Bank president Christine Lagarde spoke out against stablecoins at a recent conference in Portugal, saying they risk “weakening the sovereignty” of countries that leave them unchecked. 

The rise of stablecoins risks eroding the role of central banks in governing their nation’s monetary policy, European Central Bank president Christine Lagarde said.