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Christine Lagarde Confirms ECB’s Crypto Policy As Bitcoin Becomes Legal Tender in El Salvador – Regulation Bitcoin News


European Central Bank (ECB) President Christine Lagarde has shared her thoughts on making El Salvador bitcoin legal tender. He confirmed that the central bank’s policy on bitcoin and other cryptocurrencies has not changed.

ECB’s Lagard Comments on El Salvador Making Bitcoin Legal Tender

ECB President Christine Lagarde has shared her thoughts on El Salvador’s move to make bitcoin legal tender last week. country Passed A bill last week made bitcoin legal tender with the US dollar.

Lagarde admitted for the first time that since he left the International Monetary Fund (IMF), he is “no longer familiar with the situation in El Salvador.” “I know this is a country that is under the IMF programme,” the ECB chief said.

Lagarde affirmed that “the issue of having a dual tender in a particular economy is a tricky one”, pointing out:

This certainly does not change our approach to crypto assets and regulations, supervision and proper classification, which must be in place to avoid misinformation and misleading representations.

After El Salvador passes a bill making bitcoin legal tender, the IMF said it observed legal and economic issues Regarding this step. A BIS official also recently remarked that it was a “interesting experiment“But this does not change BIS’s view on bitcoin and other cryptocurrencies, emphasizing that B T c Fails a means of payment test.

Lagarde warning The cryptocurrency has been prone to money laundering over the past month and has no intrinsic value. In January, he said: “This is a highly speculative asset that has conducted some funny business and some interesting and outright scandalous money laundering activity.”

What do you think of Lagarde’s comments on bitcoin? Let us know in the comments section below.

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