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ECB's Christine Lagarde Says 'Speculative' Bitcoin Needs Global Regulation
In a speech at a Reuters online event Wednesday, Lagarde said bitcoin was a "highly speculative" asset.
Updated Sep 14, 2021, 10:55 a.m. Published Jan 13, 2021, 10:29 a.m.
European Central Bank (ECB) President Christine Lagarde says bitcoin has facilitated “funny business” and needs to be regulated at the international level.
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- In an interview at a Reuters online event Wednesday, Lagarde said the “highly speculative asset” has led to "some reprehensible activity," including money laundering, and any loopholes need to be closed, according to a report from Reuters.
- “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 said.
- The European Union central bank chief added there will be a digital euro, hopefully in no more than five years, according to other reports.
- The ECB has been looking into the benefits and risks of a euro-based digital currency since the Facebook-backed diem (formerly libra) project was announced in June 2019.
UPDATE (12:40 UTC, Jan. 13 2021): Added further detail from Reuters report.
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What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
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Key U.S. Senator on Crypto Bill, Lummis, Negotiating Dicey Points With White House
The Republican lawmaker who is among the core negotiators on the U.S. market structure bill said the White House has rejected some ethics language.
What to know:
- Sen. Cynthia Lummis (R-Wyo.) said she is negotiating with the White House on behalf of Senate Democrats trying to insert ethics provisions into Congress' market structure legislation.
- Lawmakers should reveal a new draft market structure bill by the end of the week and hold a markup hearing next week, she said.
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