Europe’s Top Asset Manager Calls For Crypto Ban While U.S. Firms Build

According to a Reuters report, Allianz Global Investors (GI) CEO Andreas Utermann encouraged regulators to outlaw crypto.

At a conference held in London, directed toward Andrew Bailey, the head of Britain’s Financial Conduct Authority. Utterman said:

“You should outlaw it [crypto]. I am personally surprised that regulators haven’t stepped in harder.”

Regulators Aren’t Outlawing Crypto

Recently, the G20, a global forum that hosts government officials from 20 of the largest economies in the world, has come to a consensus to regulate the crypto space primarily to ensure that digital assets are not used to fund criminal activities and to launder money.

A declaration released by the G20 read:

“We will regulate crypto-assets for anti-money laundering and countering the financing of terrorism in line with FATF [Financial Action Task Force] standards and we will consider other responses as needed.”

With the G20’s lead to regulate crypto, many governments will likely…