January 28, 2021

Christian Lagard ordered to regulate bitcoin

After the statement that bitcoin (BTC) is extremely volatile, liquid and speculative, the overseer of the European Central Bank Christian Lagard has led to the global regulation of the most popular cryptocurrency.

"Bitcoin is a very speculative asset that is used for business and illegitimate money-laundering activities," said the official on the website of Next Reuters.

In her words, the world community must introduce regulation.

“This should be applied at the global level, because if one hole appears, it will be used,” Lagard noted.

It has already been proved that in 2019 less than 1% of all bitcoin transactions took place for illegal activity. For comparison, in 2012 this indicator was 7%.

In the words of the founder, investor and investigator of the blocks William Mogayar, these statements of Lagard are "the most complete manifestation of misunderstanding"

In his opinion, bitcoin and cryptocurrencies are already regulated, and tools for combating money laundering are used everywhere and everywhere.

In addition, as recently spoke the legendarybitcoin investor and supporter Paul Tudop Johns, while the crypto assets are fighting a bloody battle for survival and growth, the authorities will be fighting the battle with private cryptocurrencies.

In the meantime, the ECB Governing Council will continueto study the issue of the digital currency of the central bank (CBDC), and the name of the digital euro, in order to follow the trends in digitization of payments. Acceleration of this process is provided by the report of the group of economists and politicians from the ECB, in which they say that the introduction of CBDC in the future will start the issuer.