European Central Bank President wants Bitcoin to be globally regulated

English Jan 13, 2021

European Central Bank President wants Bitcoin to be globally regulated

Christine Lagarde, president of the European Central Bank, said today that Bitcoin is a speculative asset that must be regulated.

According to her, it is a "highly speculative asset" and is often used for "some money laundering activities".

According to the president, previous and current criminal investigations corroborate the information. Last month, Italian police arrested the CEO of BitGrail and accused him of laundering $ 2 million in cryptocurrencies. Therefore, “there has to be regulation. This has to be applied and agreed ... on a global level, because if there is a way out [possibility of criminal use], that way out will be used. "

“Global cooperation and multilateral action are absolutely necessary, whether it be initiated by the G7, moved to the G20 and then expanded. It is something that needs to be resolved, ”she said.

The G7 nations, which include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, pushed for regulation in a statement last month.

It is not the first time that Christine Lagarde has called for regulation against Bitcoin. However it is definitely very strange to see the ECB leader openly attacking Bitcoin for its use in money laundering when its own currency is used massively for such activity, something that turns between 100% and 200% the total market value of Bitcoin, that is between 715 billion and 1.87 trillion euros annually. The real "way out".


Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.