President Christine Lagarde insists that the ECB will not change its mind on cryptocurrencies even if El Salvador legalizes Bitcoin

European Central Bank (ECB) President Christine Lagarde shared her views on the introduction of Bitcoin as legal tender in El Salvador. She confirmed that the ECB’s policy on Bitcoin and other cryptocurrencies has not changed.

Christine Lagarde – President of the ECB

The ECB President shared his views on the El Salvador move last week. The country passed legislation last week to make bitcoin legal tender alongside the US dollar.

Lagarde admitted for the first time that since leaving the International Monetary Fund (IMF) she was “no longer familiar with the situation in El Salvador. I know it is an IMF program country. “

Lagarde points out that “the problem of double bidding is a difficult one in a given economy,” claims Lagarde:

“That certainly doesn’t change our approach to crypto assets and the corresponding regulations, oversight and classification that they must follow in order to avoid misleading information and representations.”

After El Salvador passed the Bitcoin Legal Tender Act, the IMF said it saw legal and economic problems related to the move. A BIS official also recently commented that this was an “interesting test” but it does not change the BIS ‘stance on Bitcoin and other cryptocurrencies, stressing that BTC failed the test.

The ECB President warned last month that cryptocurrencies are prone to money laundering and have no intrinsic value. “It’s a highly speculative asset that has done some fun business and some interesting money laundering and is utterly reprehensible,” she said in January.

Annie

According to News.Bitcoin

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page