ECB's Christine Lagarde Blasts Bitcoin's Role In Facilitating Money Laundering

added 14.01.2021 02:30


An anonymous reader quotes a report from Bloomberg: European Central Bank President Christine Lagarde took aim at Bitcoin's role in facilitating criminal activity, saying the cryptocurrency has been enabling "funny business."

The remarks, made in a conversation largely focused on the euro-area's economic outlook, show top policymakers are taking notice as a speculative fever sweeps cryptocurrency markets.

Concerns over money laundering and the ability of financial firms to know the identities of their clients have been at the forefront of the cryptocurrency debate.

While critics say that instruments like Bitcoin make the illicit transfer of funds easier, crypto advocates say the network of digital ledgers known as the blockchain allows money to be traced more easily than cash and can actually help law enforcement.

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