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Christine Lagarde, president of the European Central Bank (ECB), called for global regulation of Bitcoin. She said that Bitcoin is a highly speculative asset and has “carried out some interesting businesses”. She emphasized that countries need to jointly regulate Bitcoin, and she suggested that cryptocurrency regulation can be “initiated by the G7, transferred to the G20, and then expanded.”
European Central Bank President Christine Lagarde said in an interview at Reuters’ next meeting on Wednesday that Bitcoin “is a speculative asset in any account.” She added: “I mean, when you look at the latest upward trend and the current downward trend, this is for those who think it might turn into currency. I’m sorry, but this is a wealth. The European Central Bank President stated:
This is a highly speculative asset with some interesting business and some interesting and completely condemned money laundering activities.
“I think a criminal investigation has been conducted and I believe it will continue. This proves this very clearly. And there must be regulations. She said: “This must be applied and agreed. “However, she did not clarify what investigation she was referring to.
Lagarde called for regulation of Bitcoin, saying:
This is a problem that needs to be reached on a global scale, because if there is an escape character, it will be used. Therefore, I think…it absolutely requires global cooperation and multilateral action, whether it is initiated by the G7, enters the G20 and then expands.
She emphasized: “However, this is a problem that needs to be resolved, adding that the Financial Action Task Force (FATF) is clearly an organization that has expanded in this area.”
Lagarde’s remarks on Bitcoin have aroused many comments. Financial analyst Dan Tapeiro wrote: “I feel embarrassed for Lagarde. Please read.” Morgan Creek Digital partner Anthony Pompliano recorded a video explaining “Why Bitcoin is the world’s regulated The highest degree of currency” and why “Bitcoin has been more regulated than any other currency and used less frequently for illegal purposes”.
Several commenters pointed out that all the money printing activities of the European Central Bank and other central banks are “funny”.
Many people pointed out that Lagarde himself was convicted of a felony. A Twitter user thought: “Why are all people trying to manage Bitcoin by themselves with incredible roughness? Lagarde” was convicted of criminal charges of huge government expenditure (400 million euros). During her tenure as the managing director of the International Monetary Fund (IMF), Lagarde was convicted of negligence in paying the country during her tenure in 2016. She was also the French Minister of Finance in 2008. Despite this, she escaped punishment and continued to work at the International Monetary Fund.
At the same time, Lagarde also said on Wednesday that she hopes to launch the digital euro within five years.
What do you think of Lagarde’s call for global Bitcoin regulation? Let us know in the comments section below.
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