In response to ECB President Christine Lagarde’s recent remarks about Bitcoin, the chief economist of the investment company Tressis stated that the cryptocurrency regulation that Lagarde had implied was “heinous” And “dangerous”.

Economists say that governments are willing to implement strict encryption regulations

Daniel Lacalle, Tressis Gestion’s fund manager and chief economist, commented on Christine Lagarde’s recent remarks on Bitcoin and cryptocurrency regulation in an interview with NTD Business on Sunday. Tressis Gestion provides investment management, financial planning, investment strategy and consulting services to Spanish clients.

He began to say: “Obviously, Ms. Lagarde has no power to enforce legislation related to cryptocurrency.” However, economists acknowledged that the European Central Bank President “is an important voice in Europe and an important voice in the financial world. So listen. Here comes her comment.”

Lacalle believes that “many governments will be more than happy to impose strict regulations on cryptocurrencies,” he pointed out, which is “fundamentally speaking, because just as the central bank’s response to the central bank’s very aggressive policies, cryptocurrencies are Sharp rise.” He added: “The European Central Bank may be the country that implements the most aggressive monetary policy among all central banks,” he emphasized: “The European Central Bank’s balance sheet already accounts for 61% of Eurozone’s GDP, and for example, the Federal Reserve About 34%. Economists stated:

Central banks do not like competition in currency creation. Obviously, cryptocurrency is competition and the result of these radical monetary policies.

Lagarde’s remarks about Bitcoin are “extremely dangerous” and “heinous”

When asked how regulations will affect cryptocurrency investors, Lacalle emphasized that “If regulation can promote transparency and improve the ability of small investors to access crypto assets, it’s not bad.” He said that for improving “transparency and liquidity” And regulations on asset availability levels”, which is good.

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However, economists warn: “I think the problem is that when they talk about regulations here, it means more intervention or prohibition, total prohibition. For example, as we have seen in some economies, prohibition The possibility of using financial means to buy Bitcoin or Ethereum or other cryptocurrencies. I think this is a dangerous path.” The fund manager exclaimed:

I think it is very dangerous for the governor of the central bank to imply that almost all cryptocurrency investors are trying to hide money laundering in some form.

He emphasized: “When we all know that the vast majority of money laundering in the world is done in legal tender, especially in U.S. dollars and euros, this is absolutely outrageous.”

Lagarde also stated that Bitcoin is “a highly speculative asset that has carried out some interesting businesses and some interesting and completely condemned money laundering activities.”

In response to the speech of the President of the European Central Bank, Lakal said: “You will not hear the governor of the central bank or the governor of the central bank saying that it should be condemned and condemned the entire currency, whether it is the US dollar, RMB, Japanese yen or Japanese yen , Euros and other currencies, because a small number of users of that currency may use it for money laundering purposes.” In addition, he asserted:

You cannot just equate money laundering with bitcoin or money laundering with cryptocurrency. I think that is very negative and absolutely incorrect.

The economist suggested that “the central bank should treat cryptocurrency as a response to what it does”, noting that its actions are “absolutely incredible in terms of the growth of the money supply and the impact on financial assets.” Finally, he suggested:

Central banks should pay special attention to sovereign bond bubbles and not worry about what cryptocurrencies are doing.

Do you agree with Lacalle? Let us know in the comments section below.

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Bitcoin, Bitcoin regulation, BTC, Central Bank, Christine Lagarde, cryptocurrency regulation, cryptocurrency regulation, European Central Bank, European Central Bank Bitcoin, Lagarde Bitcoin, money laundering

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