Christine Lagarde: There Needs to Be Global Regulation of BTC
ECB President Christine Lagarde has expressed her thoughts on BTC in a recent interview, claiming the asset needs to be regulated on a “global level.” Christine Lagarde: Bitcoin Must Be Globally Regulated In her opinion, bitcoin has given people open doorways to numerous financial crimes such as money laundering. Thus, without global regulation in play, these doors can never be closed. She mentioned that bitcoin is not a currency. Instead, it is a rather “highly speculative asset which has conducted some funny business and some interesting and totally reprehensible money laundering activity.” One of the problems she has with bitcoin is that it is still so vulnerable to price swings. This is part of the reason as to why she claims it is not a valid currency. With bitcoin’s sudden spikes in recent months, the asset remains as volatile as ever. It just so happens that this volatility is potentially working for traders at the time of writing. However, the currency is now trading about...