Banking Law

Lagarde Blasts Bitcoin’s Role in Facilitating Money Laundering

Jan. 13, 2021, 1:45 PM

European Central Bank President Christine Lagarde took aim at Bitcoin’s role in facilitating criminal activity, saying the cryptocurrency has been enabling “funny business.”

“For those who had assumed that it might turn into a currency -- terribly sorry, but this is an asset and it’s a highly speculative asset which has conducted some funny business and some interesting and totally reprehensible money-laundering activity,” Lagarde said in an online event organized by Reuters.

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. Bitcoin prices...

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