Cryptocurrencies
Lagarde Blasts Bitcoin’s Role in Facilitating Money Laundering
- Digital coin steadied on Wednesday after volatile Asia session
- The token’s anonymity has made it popular among criminals
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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.