Oireachtas Joint and Select Committees
Wednesday, 30 March 2022
Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach
Engagement with the Central Bank of Ireland
Mr. Gabriel Makhlouf:
That is a very broad statement. First, one of the things the Deputy will notice from me personally is that I do not add the word "currency" to crypto. I think it sometimes can mislead people that a cryptocurreny is just like the euro, and it is not. I tend to find it easier to just talk about crypto, of which there are different types. Certainly, some crypto, frankly, is just like a gamble. It is like walking into a pub and putting money into a fruit machine. A person could be lucky and get a return on that so-called investment but actually, quite often, he or she does not win. I do not think there is a need to ban that type of crypto.
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