Christine Lagarde, the President of the European Central Bank, once again called for cryptocurrency regulation. Lagarde expressed concern for Bitcoin’s anonymous nature and its troubled past – to quote her, the most popular crypto in the world has been used for some “funny business”. This statement comes on the heels of Lagarde’s past comments about regulating stablecoins as well. This time, however, she was focused on Bitcoin, rather than stablecoins. The whole sector is in dire need of regulation, according to her words. Bitcoin is not entirely unregulated in the EU – brokers that accept Bitcoin deposits do tend to follow strict Anti-Money Laundering procedures, but Lagarde does not consider that to be enough.
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Frankly, she is probably right – when there is total lack of oversight the potential for criminal abuse is great. It happens with fiat currencies, which are, indeed regulated, what’s left for the unregulated cryptos.
Source
Frankly, she is probably right – when there is total lack of oversight the potential for criminal abuse is great. It happens with fiat currencies, which are, indeed regulated, what’s left for the unregulated cryptos.
