{"id":42169,"date":"2021-05-10T12:11:09","date_gmt":"2021-05-10T09:11:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42169"},"modified":"2025-08-30T22:02:40","modified_gmt":"2025-08-30T19:02:40","slug":"ecb-chief-warns-of-money-laundering-risks-from-cryptocurrencies","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ecb-chief-warns-of-money-laundering-risks-from-cryptocurrencies\/","title":{"rendered":"ECB chief warns of money-laundering risks from cryptocurrencies"},"content":{"rendered":"<p>Some digital assets are predisposed to money-laundering risk, said Christine Lagarde, head of the European Central Bank (ECB) at the European University Institute summit [European University Institute].<\/p>\n<p><!--more--><\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"7 May - Morning [9:00 - 13:30] #SOU2021\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/qijWvYpnZJI?start=12412&#038;feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<p>Lagarde did not name specific cryptocurrencies, but noted that some of them are used for money laundering and financing &#8216;suspicious activity&#8217;. She added that on this issue she is in agreement with the Governor of the Bank of England, Andrew Bailey.<\/p>\n<p>Earlier, the official stated that cryptocurrencies <a href=\"https:\/\/u1f987.com\/en\/news\/bank-of-england-governor-warns-of-risk-of-losing-funds-when-buying-bitcoin\">have no intrinsic value<\/a>, therefore investments in them carry significant risk. In Bailey&#8217;s view, the prefix &#8216;crypto&#8217; and the word &#8216;currency&#8217; are incompatible.<\/p>\n<p>Lagarde emphasised that crypto assets will not be able to compete with national digital currencies. In her words, central-bank tools being developed will make payments more efficient, cheaper and accessible.<\/p>\n<p>Back in January 2021, the ECB chief described Bitcoin as a speculative asset subject to regulation. In her words, the network of the first cryptocurrency had become a platform for <a href=\"https:\/\/u1f987.com\/en\/news\/ecb-chief-bitcoin-is-speculative-and-requires-regulation\">&#8220;illicit money-laundering operations&#8221;<\/a>.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Some digital assets are predisposed to money-laundering risk, said Christine Lagarde, head of the European Central Bank (ECB) at the European University Institute summit [European University Institute].<\/p>\n","protected":false},"author":1,"featured_media":42170,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1410,36],"class_list":["post-42169","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ecb","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42169","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42169"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42169\/revisions"}],"predecessor-version":[{"id":42171,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42169\/revisions\/42171"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42170"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42169"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42169"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42169"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}