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ECB President Christine Lagarde Calls For Bitcoin Regulation

Business ReporterbyBusiness Reporter
January 14, 2021
in Blockchain & Digital Currencies
Reading Time: 2 min
Christine Lagarde

Christine Lagarde


European Central Bank (ECB) President Christine Lagarde on Wednesday said more international cooperation is needed in order to regulate Bitcoin in order to turn it from “an asset” into a “currency”.

Speaking at an online forum, she said Bitcoin is a “highly speculative asset which has conducted some funny business” adding that a global answer is needed in order to prevent criminals from misusing it for money laundering.

“There has to be regulation, and this has to be agreed upon,” and a “multilateral action is absolutely needed whether it is initiated by either the G7 or G20.”

ECB President Christine Lagarde called for global regulation of #Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed. Follow #ReutersNext updates here: https://t.co/4MgFy4jnw5 pic.twitter.com/qlBtoDuZLW

— Reuters (@Reuters) January 13, 2021

Digital Euro

Lagarde also confirmed that she hopes a digital euro will be introduced within the next five years.

“Banknotes are there to stay, but we will have a digital euro, at last,” adding that it is still “hard to say” when it will happen.

Earlier, the ECB president admitting that China has made greater advancements in the field of digital currency than either the European Union or the United States.

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European Central Bank Considers Launching a Digital Euro

Digital Currencies Will Continue To Thrive Due to Virus – Central Banks

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