[2019-07-25] Future President of European Central Bank Would Greatly Alter The A

[Bimonchik]

The new president of the ECB may greatly alter the attitude of regulators to cryptocurrencies as a whole. According to the crypto community, the European Central Bank (ECB) policy on cryptocurrencies would become more favorable. Do this requires to nominee Christine Lagarde for the presidency of the ECB.

Lagarde has regularly stressed the importance of cryptocurrency assets’ regulation. However, this spring, she released a report that claims that the financial sector is not devoted much time to cryptocurrencies. She argued that cryptocurrency would help financial markets to operate more efficiently, as it is inexpensive to use and increases the speed of transactions...


More: https://todaysgazette.com/future-president-of-european-central-bank-would-greatly-alter-the-attitude-to-crypto/

[CryptoBry]

Well, we are all hoping that the lady can be able to influence many other leaders in the Eurozone to finally embrace cryptocurrency and in exchange for that adopt strict regulations to allay their fears unfounded or not. Europe can be an important player in the world of cryptocurrency and there are now small countries which decided to open up their locations for the industry as they are seeing a great opportunity not to be missed. The road towards open cryptocurrency markets within the European countries is still a long way to go but we are always glad to see some positive developments on this aspect.

[Harlot]

How could you expect another person could shift the tides in favor on the industry when we have seen past news about the IMF, G20, G7, EU, and some international organization just making some noise doing the same “regulatory change” but will just end up with “stronger” KYC enforcement and “better” AML standards. That's all what they have been doing by mean of “regulation” at this point just KYC and AML procedures to avoid money launderers and criminals thriving in the industry.

[Slow death]

Lagarde has regularly stressed the importance of cryptocurrency assets’ regulation.

The question here is:

- Is she proposing regulations that are beneficial to cryptos?

or she is simply struggling to control this sector so that they continue to retain their power and continue make other hostages countries, in 2018 she said this:

“We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions.”

Source: IMF Chief Lagarde: Global Cryptocurrency Regulation Is ‘Inevitable’

I don't celebrate this news

[buwaytress]

I'll be taking any related news with a giant pinch of salt and a lot of tongue in cheek. There's quite a lot to read into virtually any comment. Depending on which side of the fence the media is on, there's enough skin in the game for most to squeeze out every bit of speculation they can.

Mario Draghi's been ECB president for most of Bitcoin's existence. He didn't do much to deter crypto growth even with his most vicious comments (although he did end up causing Estonia to stall what would have been a first state-run ICO).

[Vialaia]

Lagarde has regularly stressed the importance of cryptocurrency assets’ regulation.

The question here is:

- Is she proposing regulations that are beneficial to cryptos?

or she is simply struggling to control this sector so that they continue to retain their power and continue make other hostages countries, in 2018 she said this:

“We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions.”

Source: IMF Chief Lagarde: Global Cryptocurrency Regulation Is ‘Inevitable’

I don't celebrate this news

Not only regulate but invest in the fintech sector, firstly.

[1Referee]

Well, we are all hoping that the lady can be able to influence many other leaders in the Eurozone to finally embrace cryptocurrency and in exchange for that adopt strict regulations to allay their fears unfounded or not.  

I actually don't hope for anything. Bitcoin is forcing governments and central banks to start accepting the reality that Bitcoin can't be wiped off the table the way they probably hoped it would be possible to do so. Whatever the regulations are, they will always favor the government and not necessarily the crypto economy.

The problem is that they will always use money laundering and financing of terrorism as an excuse to collect as much personal information as possible. Some exchanges have already been instructed to ask their users silly questions that go way beyond what they use an exchange for. The more regulated this space becomes, the more of this nonsense we can expect.

[rodel caling]

The question here is:

- Is she proposing regulations that are beneficial to cryptos?

or she is simply struggling to control this sector so that they continue to retain their power and continue make other hostages countries, in 2018 she said this:

“We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions.”

Source: IMF Chief Lagarde: Global Cryptocurrency Regulation Is ‘Inevitable’

I don't celebrate this news
[/quote]


Well you had point we need to wait the complete guidelines for the proposing regulation of the incoming ECB president. Before to celebrate this news.

[Kemarit]

Lagarde's statement about crypto doesn't mean a thing. The way I read it, her statement is quite on the gray area so even if she is elected as the next ECB president, I don't think that here stance on crypto will suddenly shift to favor us.

Of course, she is batting for a total crypto regulation which I think everyone would likely to see instead of a global financial sectors hard stance, but we will have to see how it will pan out. For now, this is just speculation so I wouldn't be concern at this point, whether she is elected or not.

[timerland]

The press release is written in a very strategical area, and it's more of an announcement that hopes to rally support behind her from both sides of the argument (pro-crypto and con-crypto). It's written in a way so the public doesn't know her actual views on crypto. It's very smart and she mentions good points for both sides (crypto being able to accelerate the financial sector, and crypto being a huge risk to the current centralized banking systems they have)

I'd recommend everyone who read the article to take it with a grain of salt. She is very on the fence with crypto and this is another marketing tactic to get her more votes. Although speculating, I doubt she will propose anything drastic relating to crypto, but maybe attempt to control and track activity more?

What do you guys think she'll do if elected? I haven't seen a lot of politicians talk about crypto publicly personally.