Christine Lagarde Says Bitcoin needs Regulations

I don't know if you heard the news but Christine Lagarde talked about BTC. In case you think she said something nice, well guess again. In case you don't know who Christine Lagarde is, she is the president of the European Central Bank.

so tell us beautiful and kind filotas what did she say?

To begin with, she doesn't think of bitcoin as a currency but instead, she considers it as a highly speculative asset. She then continues by saying that BTC

"has conducted some funny business and some interesting and totally reprehensible money laundering activity"

And because of that, she thinks there must be some new regulation at the global level in order to narrow it down. In other words, she blames BTC for many money laundering activities and because of that, it needs to be regulated.

_{here is the full video}

What that Means for the Future of Cryptos

Before i talk about what that statement may mean for the future of our beloved cryptos let me tell you at this point that the whole "money laundering thing" is nothing but an excuse.

It's no doubt that money laundering is a thing when we are talking about btc. Many criminal empires have btc and we are all aware of it. It's easy to store wealth and that's a fact.

At the same time though the vast majority of money laundering is through fiat. I don't see any regulation on that? Or to be more precise there are regulations but depending on the country everything is different and ofc because of the corruption it's everywhere, especially in the "higher" positions.

Also, if you see the whole video she is talking about the upcoming digital euro currency so in a way it's like she says "trust our centralized crypto and don't the decentralized one*

Finally, i believe that this may be a signal that they will enforce stricter measures on the btc and crypto community in general. Not because of the money laundering because they want a piece of the pie.

They will earn more money from us through the way they tax it and ofc they don't like the fact that people are basically their own bank. And what a better person to say it right? The president of a bank that doesn't want people to be their own banks, well go figure!