Christine Lagarde Reaffirms ECB’s Crypto Coverage as Bitcoin Turns into Authorized Tender in El Salvador – Regulation Bitcoin Information

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The president of the European Central Financial institution (ECB), Christine Lagarde, has shared her view on El Salvador making bitcoin authorized tender. She confirmed that the central financial institution’s coverage on bitcoin and different cryptocurrencies has not modified.

ECB’s Lagarde Feedback on El Salvador Making Bitcoin Authorized Tender

ECB President Christine Lagarde has shared her view final week on El Salvador’s transfer to make bitcoin authorized tender. The nation handed a invoice final week making bitcoin authorized tender alongside the U.S. greenback.

Lagarde first admitted that since she left the Worldwide Financial Fund (IMF), she is “not acquainted with the scenario in El Salvador.” The ECB chief famous, “I do know that it’s a nation that’s beneath the IMF program.”

Whereas declaring that “the difficulty of getting twin tender in a specific financial system is a troublesome one,” Lagarde confirmed:

That actually doesn’t change our strategy to crypto belongings and to laws, supervision, and correct classification that they need to be beneath to keep away from misinformation and deceptive representations.

After El Salvador handed the invoice making bitcoin authorized tender, the IMF stated that it noticed authorized and financial points concerning this transfer. A BIS official additionally commented lately that it’s an “fascinating experiment” but it surely doesn’t change the BIS’s view on bitcoin and different cryptocurrencies, insisting that BTC fails a method of fee check.

Lagarde warned final month that cryptocurrencies are liable to cash laundering and haven’t any intrinsic worth. In January, she stated: “It’s a extremely speculative asset, which has carried out some humorous enterprise and a few fascinating and completely reprehensible cash laundering exercise.”

What do you concentrate on Lagarde’s feedback on bitcoin? Tell us within the feedback part beneath.

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