The president of the European Central Bank (ECB), Christine Lagarde, has shared her view on El Salvador making bitcoin legal tender. She confirmed that the central bank’s policy on bitcoin and other cryptocurrencies has not changed.
ECB’s Lagarde Comments on El Salvador Making Bitcoin Legal Tender
ECB President Christine Lagarde has shared her view last week on El Salvador’s move to make bitcoin legal tender. The countrya bill last week making bitcoin legal tender alongside the U.S. dollar.
Lagarde first admitted that since she left the International Monetary Fund (IMF), she is “no longer familiar with the situation in El Salvador.” The ECB chief noted, “I know that it is a country that is under the IMF program.”
While pointing out that “the issue of having dual tender in a particular economy is a difficult one,” Lagarde confirmed:
That certainly does not change our approach to crypto assets and to regulations, supervision, and proper classification that they should be under to avoid misinformation and misleading representations.
After El Salvador passed the bill making bitcoin legal tender, the IMF said that it sawregarding this move. A BIS official also commented recently that it is an “ ” but it does not change the BIS’s view on bitcoin and other cryptocurrencies, insisting that fails a means of payment test.
Lagardelast month that cryptocurrencies are prone to money laundering and have no intrinsic value. In January, she : “It’s a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible money laundering activity.”
What do you think about Lagarde’s comments on bitcoin? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies.does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.