The president of the European Central Bank (ECB), Christine Lagarde, has called for the global regulation of bitcoin. She said that bitcoin is a highly speculative asset and has “conducted some funny business.” Emphasizing the need for countries to work together to regulate bitcoin, she suggested that the crypto regulation could be “initiated by the G7, moved into the G20 and then enlarged.”
ECB Chief Calls for Bitcoin Regulation Globally
ECB President Christine Lagarde said in an interview at the Reuters Next conference Wednesday that bitcoin is “a speculative asset by any account.” She added: “I mean, when you look at the most recent developments upward and now the most recent downward trend, it’s for those who had assumed that it might turn into a currency. Terribly sorry, but this is an asset.” The ECB chief elaborated:
It’s a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.