European Central Bank President: Bitcoin must be regulated globally
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Answer European Central Bank President: Bitcoin must be regulated globally
Yesterday, European Central Bank President Christine Lagarde stated that Bitcoin should be regulated at the global level, because Bitcoin is a speculative asset that should be regulated.
declaration I made Lagarde told Reuters during a press conference after the meeting of the European Central Bank Board of Directors, and her statement came as follows:
Bitcoin is a highly speculative asset that has done some funny business and some very interesting and totally reprehensible money laundering activities.
She said:
Bitcoin’s nefarious activity is very clearly demonstrated by past and current criminal investigations.
Just last month, Italian police arrested the CEO of cryptocurrency exchange BitGrail and accused him of laundering $2 million in cryptocurrency.
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Lagarde added:
There must be regulation.
This should be applied and agreed upon at the global level because if there are unregulated places they will be used for escape there.
There is an urgent need for global cooperation, and multilateral action, whether initiated by the G7, or the Group of Twenty and then expanded.
It is something that must be addressed.
The G7 countries, which include Canada, France, Germany, Italy, Japan, the United Kingdom and the United States, are seeking to regulate the crypto market as shown by a statement issued last month.
A spokesman for US Treasury Secretary Steven Mnuchin earlier urged the need to regulate cryptocurrencies.
Commenting on Bitcoin’s recent upward movement, which has taken the coin’s price from $10,500 at the beginning of October to nearly $42,000 this month, Lagarde said:
Bitcoin is a speculative asset.
For those who assumed that Bitcoin would turn into a currency
I tell them: I’m so sorry, but this is a speculative asset.
This is not the first time that Lagarde’s anti-Bitcoin statements have appeared, as she had previously stated last November that Bitcoin is an asset that contains risks, as there is no issuer that can be identified, and she added at the time that this explains Bitcoin’s volatility.
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