European Central Bank President Christine Lagarde on Wednesday came forward to comment on the latest developments in Bitcoin. In the statement, he suggested that the regulation of Bitcoin be implemented as soon as possible because the crypto currency is often misused as used in money laundering activities.
He added that Bitcoin is now one of the instruments considered compared to the time it was introduced. It has started to be bought by the public, investment firms and even large companies. Some have borrowed money just to have more crypto currencies whose value has increased almost tenfold since last March.
For Lagarde, Bitcoin is a very speculative asset that is often used in money laundering activities. The crypto currency has so far not been properly regulated and monitored.
Reportedly, Lagarde has participated in several regulatory groups from around the world and proposed that cryptocurrencies be regulated. However, the price of bitcoin continued to show positive performance with a return of 7.47% from yesterday's fall to the price level of $ 33,919.70 per unit.
