Vincent Boland: Time to take a stand against crypto buffoonery

Central Banks across the world should heed of a group of academics and tech industry veterans who have appealed for lawmakers not to be seduced by the oceans of hype that envelop the crypto world

‘So far, regulators have been sceptical of the virtues of crypto, but that could change if the phenomenon gains widespread political backing.’

Stocks are not the only asset to have crashed since the start of this year. As investors get to grips with the fall in the value of Big Tech and its myriad lesser iterations, cryptocurrencies have been consumed by the flames. Bitcoin has tumbled by a third, and other cryptos have fared worse.

So-called stablecoins, which are allegedly pegged one-to-one against US dollars, have in some cases fallen below parity, suggesting that no financial asset ...