Christine Lagarde urged to regulate “speculative bitcoin” following the example of FATF
European Central Bank President Christine Lagarde called Bitcoin a “highly speculative” asset that needs regulation.
Speaking at the Reuters Next conference on Wednesday, Lagarde stated that bitcoin is being used to carry out “some unclean deeds and some interesting and completely unseemly money-laundering activities.”
“There has to be regulation, it needs to be negotiated and applied,” Lagarde said. – If there is a way out, this outlet will be used. Therefore, I believe that international cooperation and multilateral action is absolutely necessary, whether initiated by the G7 or promoted by the G20 and then expanded. The Financial Action Task Force on Money Laundering (FATF) is a clear example of an organization expanding in this regard. “
At the same time, Lagarde expressed the hope that the digital euro will appear no later than five years from now. According to her, only yesterday the ECB completed consultations with the participation of the general public on the digital euro, having received “the highest level of responses.”
“At least 8,000 people actually went in and answered many of the questions that were included in the digital euro questionnaire. Therefore, we go further. We are not pumping up, because this is an area where we need to be especially careful and where we need a safe system that would meet European needs, ”she added.
In November 2020, the President of the ECB said that global stablecoins “may pose risks to competition and technological autonomy in Europe.”