The Governor of the Belgian Central Bank has expressed satisfaction with the drop in cryptocurrency prices in 2022, stating that “the problem solved itself.” The bank had been concerned about the impact of cryptocurrency investments on financial stability, but noted in its review of the year that the “turbulence” of the crypto market had little impact on traditional financial institutions. Governor Pierre Wunsch called crypto investments “highly speculative” and compared them to financial bubbles of the past. The report also indirectly referred to the “unsavory practices” of crypto exchange FTX. The media outlet Business AM suggested that central banks, who are developing their own central bank digital currencies, are not neutral parties when it comes to cryptocurrencies.
