European Central Bank Director Christine Lagarde called for global regulation of Bitcoin, calling the cryptocurrency “reprehensible”.
Lagarde made the comments at a Reuters Next conference earlier today, in which she claimed that Bitcoin is not a currency.
“When you look at the most recent upward developments, and now the recent downtrend… for those who have guessed that it might turn into money, sorry but it’s an asset and it’s a highly asset. speculative, ”she said.
#Bitcoin “ conducted some fun and interesting and totally wrongful money laundering business ”, @ECB President Christine Lagarde told the #ReutersNext conference https://t.co/iaZUQ9LYZQ pic.twitter.com/ciKDqJZnbV
– Reuters (@Reuters) January 13, 2021
The former IMF chief, who had previously been found guilty of financial negligence by a French court over a € 403 million arbitration agreement in favor of businessman Bernard Tapie, then accused Bitcoin of be heavily involved in criminal activity.
“(Bitcoin) has been carrying out some fun, interesting and totally wrongful money laundering and money laundering activities,” Lagarde said.
The head of the ECB then called for Bitcoin to be regulated by the financial authorities.
“There must be regulation. It must be applied and accepted […] globally, because if there is a breakout, that breakout will be used, ”she said.
Globalists and technocrats have long been reluctant to Bitcoin because it is decentralized and therefore impossible to come under the control of centralized financial institutions. Cryptocurrency has also provided a safe haven for dissidents who have been exhausted by regular financial services and institutions for their politics.
Bitcoin recently hit an all-time high above $ 41,000, but has since fallen back to around $ 35,000.
After the cryptocurrency hit a record high of over $ 17,000 at the end of 2017, it then took the bank down to around $ 3,000, highlighting the insane volatility of the asset.
However, many analysts are predicting that rising debt, record coin printing, and hyperinflation could see Bitcoin climb to hundreds of thousands over the next year.
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