ECBS Lagarde Callls for Regulating Bitcoins

[hv_]

https://www.msn.com/en-us/money/markets/ecbs-lagarde-calls-for-regulating-bitcoins-funny-business/ar-BB1cIfM8

[figmentofmyass]

"(Bitcoin) is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity," Lagarde said in an interview at the Reuters Next conference.

Lagarde did not provide specific examples of money laundering cases but said she understood there had been criminal investigations into illegal activity. She did not elaborate.

sounds legit.

sadly, the writing is on the wall---2021 is gonna be the year bitcoin gets regulated to shit. the USA is looking to pass those self-hosted wallet regulations to prevent third party money transmission by exchanges, and they're also threatening to implement the FATF travel rule with a $250 reporting threshold!

get ready for KYC on the tiniest of bitcoin transactions!

the EU is obviously getting ready to join the party too.

[Harlot]

Christine Lagarde called on Wednesday for global regulation of Bitcoin, saying the digital currency had been used for money laundering activities in some instances and that any loopholes needed to be closed.


Lagarde did not provide specific examples of money laundering cases but said she understood there had been criminal investigations into illegal activity. She did not elaborate.

Well this is another case of an official where they see cryptocurrency as the problem and not the crime itself, global regulation for Bitcoin or just a ban for it won't make money laundering or any other crimes involve with it disappear they just simply move into another kind of method and the bottomline is the problem, money laundering, will still be there. I don't even know if Lagarde is up to date or knows what she even is talking about when criminals have move to a more private or anonymity focus cryptocurrency like Monero because both the authorities and criminals know Bitcoin is traceable. For me Lagarde even though it looks like she is calling the shots I don't think she has the power to do a "global regulation" or have a big influence in it.

[Darker45]

Sometimes I really appreciate Lagarde and sometimes I don't.

Anyway, Bitcoin can't be regulated strictly speaking. But with this call from ECB's head, there might follow stricter sets of crypto regulations and implementations across the EU, and most probably worldwide, on Bitcoin-related services which certainly include exchanges more than others, so let us all prepare for the worst and brace ourselves for it.  

But Bitcoin is not created for dirty and funny business. Bitcoin means serious business. Lagarde should be aware that there is nothing dirtier and funnier than the fiat monetary system and the banks.

[hv_]

Sometimes I really appreciate Lagarde and sometimes I don't.

Anyway, Bitcoin can't be regulated strictly speaking. But with this call from ECB's head, there might follow stricter sets of crypto regulations and implementations across the EU, and most probably worldwide, on Bitcoin-related services which certainly include exchanges more than others, so let us all prepare for the worst and brace ourselves for it.  

But Bitcoin is not created for dirty and funny business. Bitcoin means serious business. Lagarde should be aware that there is nothing dirtier and funnier than the fiat monetary system and the banks.

I hear that, but for getting from the 'wannabe' for serious business (and I remember the time, when business got kicked out and denounced on bitcoin.org at Segwit / 2x days...) to really  BE the thing for serious business there is a big gap in stability of governance and capacity >> scalability of  defined product