European Cardinal Bank President Christine Lagarde has repeated her insistence that global regulators demand to tighten the rules to ensure Bitcoin (BTC) falls under more coordinated oversight.

In an interview at the Reuters Next briefing, amid an unprecedented bull market for the veteran cryptocurrency, Lagarde argued:

"[Bitcoin] is a highly speculative asset, which has conducted some funny business and some interesting and totally reprehensible coin laundering activity."

While Bitcoin is pseudonymous, rather than anonymous, its distributed nature and complex interaction with jurisdictional regulatory frameworks present a challenge for international authorities. During the interview, Lagarde did non reportedly refer to whatsoever specific instances of money laundering involving Bitcoin but instead alluded to her awareness of various criminal investigations into illegal activities continued with its utilize. She told reporters:

"There has to be regulation. This has to be applied and agreed upon [...] at a global level because if at that place is an escape that escape will be used."

Lagarde has been consistent in advocating the necessity of international regulation of cryptocurrencies, claiming in 2018 that their ascendancy had been fueled, in function, by "herd mentality" among those looking for loftier-yield fiscal products.

She struck a more conciliatory tone — notably, during a less overheated crypto market — in September 2019. At the time, Lagarde balanced the demand to mitigate the potential risks of crypto through increased regulation with a recognition of the potential for "wider social benefits from innovation" that could exist attained by allowing the space to develop.

Lagarde has meanwhile suggested that it could take the Eurozone up to four years earlier it possibly launches a digital euro.

Notwithstanding Brexit, the European Union and Britain announced to be on the same page when information technology comes to private cryptocurrency markets. In response to Bitcoin's intense volatility in contempo weeks, the United Kingdom's fiscal regulator has posted a new warning to the public, telling citizens they should exist ready to lose all they invest.