ECB President is in the hot waters after prank video surfaces, where she reveals the actual use cases of the digital euro.
A video clip has been circulating showing European Central Bank (ECB) President Christine Lagarde discussing the potential use of the digital euro for "limited" control over payments.
The video, which gained significant interest on social media, is a three-week-old prank. In the video, Christine Lagarde thought she was talking with Ukrainian President Volodymyr Zelensky and shared more details about her opinions than usual.
Did you know?
Want to get smarter & wealthier with crypto?
Subscribe - We publish new crypto explainer videos every week!
How Does Cryptocurrency Work? (Explained with Animation)
In the clip, Lagarde emphasized the importance of not relying on an "unfriendly countries currency" or a currency provided by a "private corporate entity like Facebook or like Google" and shared her belief that the digital euro project must progress.
In the conversation, the imposter Zelensky claimed that European protestors "don't want to be controlled" by a central bank digital currency (CBDC). Lagarde agreed with his statements, saying, "there will be control, you're right. You're completely right." However, ECB President added that there would be a "limited amount of control," adding:
We are considering whether for very small amounts, anything that is around 300, 400 euros, we could have a mechanism where there is zero control. But that could be dangerous.
This is not the first time anonymous actors prank public figures. Harry Potter author J.K. Rowling and former U.S. President George W. Bush were also once targeted by similar pranks.
However, Christine Lagarde's ideas caused a wave of criticism from crypto community members, with some investors urging their peers not to "give into <the government> control."
While other investors claimed that the leaked video revealed "where all this is going" and would urge people to lean towards using decentralized cryptocurrencies, like Bitcoin (BTC) and Ethereum (ETH).
Despite the prank being all about Europe's central bank digital currency (CBDC) plans, it shines the light on the issue of deep fakes and the impact new artificial intelligence developments have on public matters. Thus, the call from tech executives urging the government to pause the development of advanced AI products becomes exceptionally valid.
