Digital Assets: ECB’s Lagarde Lashes Out At Bitcoin

digital assets ecbs lagarde lashes out at bitcoin
Digital Assets: ECB’s Lagarde Lashes Out At Bitcoin The central banker expresses concerns about bitcoin’s intense volatility.

European Central Bank President Christine Lagarde called Wednesday for co-ordinated, global action to regulate bitcoin. She drew attention to the roller-coaster moves in the leading cryptocurrency’s price and accused it of “funny business” and money-laundering. (Reuters)

Lagarde: Bitcoin and “funny business”

Lagarde was speaking in an interview at the Reuters Next conference. Here are quotable quotes:

“It is a speculative asset by any account – I mean when you look at the most recent developments upward, and now the most recent downward trend.” “For those who had assumed that it might turn into a currency, terribly sorry but this is an asset and it’s a highly speculative asset which has conducted some funny business and some interesting and totally reprehensible money-laundering activity.” “…And there has to be regulations. And this has to be applied and agreed upon. It’s a matter that needs to be agreed at a global level, because you know if there is an escape, that escape will be used.” “So I think it needs to be…, if anything, it shows that global cooperation, multilateral action is absolutely needed – whether it is initiated by the G7, moved into…Summary on Digital Assets: ECB’s Lagarde Lashes Out At Bitcoin provided by on
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