Can Christina Lagarde support the idea of ​​cryptocurrencies to help?

Can Christina Lagarde support the idea of ​​cryptocurrencies to help?

Will ECB support Bitcoin?

Lagarde, who was recently nominated as the president of the European Central Bank, has repeatedly published cryptocurrency-related remarks, which investors interpret as supportive attitudes. In April of this year, Lagarde commented that financial institutions and regulators underestimated the potential influence of digital currencies in the industry. Lagarde warned that digital assets are "inciting the entire system." In an interview with CNBC, Lagarde elaborated on this:

“I think that the subversives and anything that uses distributed ledger technology, whether you call it cryptocurrency, assets, currency, or anything else, is clearly shaking the system.”

Lagarde said that it is important that the current financial system does not “lose the stability we need” because of subversiveness. In addition, she also reminded the financial sector and international regulators not to ignore blockchain technology and cryptocurrency in an interview in 2017.

Although it is impossible to deny that cryptocurrencies such as Bitcoin are inciting the current system – or at least have the potential to do so – many critics will dismiss their utility, so Lagarde’s openness to the technology is a powerful support.

Lagarde may take a different approach

The above comments by Lagarde received positive feedback from the cryptocurrency community, and many hope that as the European Central Bank governor, Lagarde will issue laws supporting cryptocurrencies, which bodes well for this growing industry. Former ECB President Mario Draghi often said that cryptocurrencies are “high risk”, in contrast to Lagarde’s experience as a politician and the diversity of her professional experience. Will let her treat the cryptocurrency differently than her predecessor.

More and more organizations are expressing interest in cryptocurrencies, and Facebook, JP Morgan Chase, Bakkt and Fidelity Investments are now providing investment and hosting services to retail and institutional investors.

Lagarde seems to realize that as more and more multinational companies, technology start-ups, and multi-billion dollar financial institutions with market capitalization begin to accept cryptocurrencies, the ECB and other relevant agencies have developed a rational and interactive interface with digital assets. The plan will become more and more important.

Although the incoming ECB president is certainly more open to encryption than the previous presidents, it is worth noting that her interest seems to be more of a centralized cryptocurrency than a bitcoin. Decentralized choice.

Still, she may be more inclined to loose and friendly when considering cryptocurrency legislation.

Original: https://bitcoinist.com/european-central-bank-head-christine-lagarde-could-enact-bitcoin-friendly-legislation/
Author: EUSTACE CRYPTUS
Compile: Wendy
Source (Buffalo): Babbitt Information (https://www.8btc.com/article/441922)

We will continue to update Blocking; if you have any questions or suggestions, please contact us!

Share:

Was this article helpful?

93 out of 132 found this helpful

Discover more

Blockchain

The blockchain has completely detonated the Chinese stock market and the currency market. How long can the magic continue?

After the blockchain technology officially rose to the national strategy, the entire blockchain market ushered in a l...

Blockchain

Analysis | Bitcoin's dual structure breaks at the same time, and $ 8,000 has become a thing in the bag?

The mainstream currencies represented by BTC rebounded quickly in the short term. Almost all the currencies covered b...

Blockchain

How to become a successful Bitcoin HODLer? Must have at least these three basic qualities

Bitcoin blog author Sylvain Saurel has published an article about the basic qualities needed to become a true Bitcoin...

Blockchain

Data: Bitcoin network activity is strengthened again, investors may start buying before halving

When the price of Bitcoin fell sharply four weeks ago (3 · 12), as investors started hoarding coins and turning ...

Blockchain

Expectations are too high? Bakkt weekly trading volume is only 5 million US dollars

According to Coindesk's October 1 report, the much-anticipated Bakkt exchange just opened its Bitcoin futures co...

Blockchain

Hot discussion on "blockchain experts": within 11 years, bitcoin mining will become too expensive to continue

A new discussion on Reddit was heatedly discussed by a Reddit user who gave a new perspective on bitcoin mining from ...