European leaders are at it again and this time, Christine Lagarde, the President of the European Central Bank (ECB) claims that many users of bitcoin utilize it for shady business.
She notes that the leading currency has enabled “funny business” and it is time for it to be regulated globally, especially as it is used for international exchange.
Largarde Notes that BTC is Highly Speculative
The President of the ECB held in a recent virtual interview at a Reuters event on the 23rd of January 2021, that BTC is a “highly speculative asset” and has resulted in “some reprehensible activity,”
She also noted how the digital gold inadvertently advances money laundering. Reuters also reported that all gaps must be closed up with checks here and there to prevent illegal avoidance and circumvention of extant and future regulations.
BTC Should be Regulated on a Global Stage
The ECB President notes:
“There has to be regulation. This has to be applied and agreed upon … at a global level because if there is an escape that escape will be used,”
With reference to Facebook backed coin- diem, the ECB president also assured that there will be a digital euro Euro the next five years.
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