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The head of the European Central Bank considers Bitcoin a "speculative asset"

Jan 16, 2021 | News
The head of the European Central Bank considers Bitcoin a "speculative asset"

At a recent Reuters Nex conference, held online January 11-14, the head of the European Central Bank - Christine Lagarde - spoke of bitcoin as a speculative asset that needs to be regulated at the state level.

According to her, the world's first cryptocurrency has become a platform for the implementation of reprehensible transactions, money laundering, various speculations, and financial fraud. In this regard, Christine Lagarde called on representatives from different countries of the world to start a cooperation to create appropriate systems for the regulation of cryptocurrencies at the global level.

According to her, the core of this should be the FATF - the Group for the Development of Financial Measures to Combat Money Laundering.

Also, the head of the ECB does not see a quick solution to this problem - even with the cooperation of many experts, and when discussing the digital euro alone, their number reached 8 thousand, the development of regulatory mechanisms will take a long time. In the most optimal case, at least 5 years.

Most noteworthy is the fact that the calls for restricting cryptocurrencies not controlled by the state began after a noticeable increase in interest in the development of CBDC - "Digital currencies of central banks". The more countries start to develop their own "cryptocurrency assets" - the more active the calls to limit everything else. The only question is how. After all, different states look at this situation from different angles - from a total ban on any private activity with cryptocurrencies in China to full legalization and low taxation in several European countries.

Published on the EXBASE.IO based on materials from forklog.com