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ECB president says Bitcoin should be regulated

Thursday 14 January 2021 14:50 CET | News

European Central Bank (ECB) president Christine Lagarde has advised that Bitcoin is ‘highly speculative’ and needs to be regulated.

As The Block reports, Lagarde also said Bitcoin has conducted ‘some funny business and some interesting and totally reprehensible money laundering activity.’ She also said that regulations that are agreed upon and applied at a global level, need to be implemented. Lagarde says that global cooperation and multilateral action is absolutely needed, whether it is initiated by the G-7, moved into the G-20 and then enlarged, or others.

Lagarde also spoke about central bank digital currencies (CBDCs). She said the ECB just concluded a consultation of the general public about the digital euro, and it has received the highest level of responses to the consultation.

She did not provide a specific timeline for the launch of the digital euro, but said it is going to take a while to make sure that the ECB has something that is safe.

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Keywords: ECB, Bitcoin, cryptocurrency, AML, money laundering, digital euro, CBDC, crypto regulations
Categories: Blockchain & Cryptocurrencies | Cryptocurrencies
Countries: Europe
This article is part of category

Blockchain & Cryptocurrencies