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ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Regulation

In a speech at a Reuters online event Wednesday, Lagarde said bitcoin was a speculative asset.

ECB’s Christine Lagarde Says ‘Speculative’ Bitcoin Needs Regulation

European Central Bank (ECB) President Christine Lagarde said bitcoin has facilitated “funny business” needs to be regulated at a Reuters online event Wednesday.

  • Lagarde also described bitcoin as a “speculative asset,” according to a report from FX Street.
  • The EU central bank chief said there will be a digital euro, hopefully in no more than five years.
  • The ECB has been looking into the benefits and risks of a digital currency since the Facebook-backed Diem (formerly Libra) project was announced.
  • This is a breaking story and more details are expected.
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