'I am personally surprised that regulators haven't stepped in harder,' said Utermann.
The head of one of Europe's largest asset managers has called for global regulators to ban cryptoassets, scorning them for wiping out people's savings.
After a spectacular boom in 2017, cryptocurrencies have fallen to earth this year. The best known one, Bitcoin, has lost three-quarters of its value while Ripple and Ethereum, the second and third biggest cryptocurrencies, have both slumped nearly 90%.
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