Allianz GI CEO: Cryptoassets more suited to 'criminal underworld'

Cryptocurrencies can neither be considered "a proper asset class, nor can they be considered as a currency", and are likely set for greater political and regulatory scrutiny to come, Utermann (pictured) wrote in a LinkedIn post on Wednesday (30 January). He explained that cryptocurrencies lack some of the key features underpinning the sustainability of traditional fiat money such as tax raising powers, productivity in terms of trade, the ability to pay interest, backing from an army. UK regulators reveal 'comprehensive' crypto regulation plans Despite the "laudable intentions of so...