The head of Allianz Global Investors is a “good” example of how some large investment companies prefer to make demands on politicians rather than recognize opportunities. This calls for action by global supervisors against crypto currencies and refers to investor protection.
All investors have lost money – but many have also won
It is true that many investors have indeed lost savings due to temporary price slumps in Bitcoin and other tokens. However, investors are generally aware of the risks associated with such volatile financial products. Not to mention the enormous profits that many investors were able to secure through the timely purchase and sale of currencies such as Ethereum or even more recent offers such as the Litecoin.
Company boss even demands currency bans from authorities
Andreas Utermann, head of the investment global player Allianz Global Investors, is currently campaigning for supervisory authorities to finally take stricter action against the digital currencies. According to media reports, he even goes so far as to speak out in favour of bans. And that all over the world, as Utermann’s speech today showed. Worth knowing: Allianz Global Investors is not just any investment company. Rather, it is Europe’s No. 1 in the field of asset management.
British supervision currently does not want to know anything about bans
The head of FCA, the British financial supervisory authority, was reportedly among the company’s listeners. Both agreed that crypto currencies were basically worthless to themselves. FCA boss Andrew Bailey announced instead of bans in the end “only” stricter controls of the market, especially with regard to ICOs, i.e. the issue of new currencies or financial products with crypto reference. Other countries are already working on guidelines such as the introduction of reporting obligations for ICOs in Japan.