Just of recent, a new administration stepped into office in the US, and we are all impatiently waiting to see what that will mean for the future of Crypto. However, the President of the European Central Bank (ECB), Christine Lagarde, is calling for global Bitcoin regulation. According to her, criminals are making use of digital currency to launder money and conduct other “funny business.” Her opinion blames these activities on the “patchy regulation,” allowing criminals to move money without oversight. “There has to be regulation. This has to be applied and agreed upon […] at a global level because if there is an escape that escape will be used,” she told Reuters.
Her suggestion comes at a time when Bitcoin is in a bull market, and its popularity across the globe is rapidly increasing. Christine Lagarde hereby joins other regulators that have also called for the global regulation of cryptocurrencies. It is worth noting that the common belief that criminals use Bitcoin because it is anonymous is misplaced. That is because Bitcoin is, in fact, pseudonymous. This clearly means that investigators can trace a wallet back to its owner.