According to Fabio Panetta, the volatility of crypto and aspects of blockchain technology made digital assets only suitable for gambling.
Source: https://cointelegraph.com/news/ecb-official-crypto-deleterious-no-societal-benefits-scathing-speech
ECB official labels crypto as ‘deleterious’ with ‘no societal benefits’ in scathing speech
June 24, 2023
CoinTelegraph