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by
Anthonia Isichei
on
January 13, 2021 Bitcoin
Christine Lagarde, the President of the European Central Bank (ECB), has said that there was a need for global regulation of bitcoin, as a unified cryptocurrency regulation would serve as a better alternative to cover any loopholes.
Global-Regulation Necessary for Bitcoin
Speaking in an interview at the Reuters Next conference on Wednesday (Jan.13, 2021), the ECB president noted that bitcoin has been used for illegal activities such as money laundering. Lagarde also made a comment on bitcoin’s price volatility, calling the number one cryptocurrency a speculative asset.
In terms of the regulation of bitcoin and other crypto assets, Lagarde said that the effort should be global. An excerpt from the interview reads: