President of the European Central Bank Demands Bitcoin to be Regulated1 min read

Christine Lagarde

The President of the European Central Bank, Christine Lagarde, explained that Bitcoin, which has had sudden fluctuations, has been used for distorted purposes such as money laundering, and that global regulations should be introduced to Bitcoin to close the gaps in the law.

European Central Bank (ECB) President Christine Lagarde made new statements at Reuters’ Next event. Speaking about the effects of Brexit and COVID-19 on the markets, Lagarde also made striking statements for Bitcoin, the cryptocurrency with its sharp fluctuations.

Stating that Bitcoin is used in many activities such as money laundering, the president explained that legal regulations should be introduced to Bitcoin by closing the gaps in the law.

“Bitcoin is a speculative investment tool”

Describing Bitcoin as a speculative investment goal, Lagarde stated that the Euro, which he showed as a better alternative, will take place in the digital market within five years at the most.

The head of the center emphasized that global regulations should be brought to the crypto money market so that investors who can escape the gaps in the law can be prevented.

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