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

Predicts greater regulatory scrutiny to come

Mike Sheen
Allianz GI CEO Andreas Utermann

Allianz GI CEO Andreas Utermann

CEO of Allianz Global Investors Andreas Utermann has claimed cryptocurrencies like Bitcoin are "entirely unsuitable for investing" and are better suited for use by the "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)...

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