Economist condemns Bitcoin statements of ECB chief Christine Lagarde

Daniel Lacalle's explosive interview details
  • Daniel Lacalle, in an interview with NTD Business on Sunday, responded to Christine Lagarde’s recent remarks about bitcoin and crypto regulation
  • Daniel argued that Christine does not have the authority to enforce legislation associated with cryptocurrencies, though her voice matters in the financial world
  • Daniel stated that the regulations are worthy if they will facilitate transparency

European Central Bank (ECB) President Christine Lagarde’s recently commented on the cryptocurrency regulations in the context of Bitcoin. In response to the former’s remarks, the supreme economist at investment institution Tressis claimed that their meaning indicates an outrageous and dangerous context for cryptocurrency regulation.

Daniel Lacalle’s explosive interview details

Daniel Lacalle holds the position of the fund manager and chief economist at Tressis Gestion. Some of Tressis’s facilities include investment management, investment strategies, financial planning, and advisory services to customers in Spain. 

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Daniel recently gave an interview with NTD Business on Sunday. There, he responded to Christine Lagarde’s recent remarks about bitcoin and crypto regulation. He began with an explanation that Christine does not have the authority to enforce legislation associated with cryptocurrencies. 

However, Daniel acknowledged that the ECB President forms a significant opinion in Europe and the financial world. This is the reason that her viewpoint is heard and validated.

The positive response of governments expected towards strict crypto regulations 

Daniel further added that most governments would be more than willing to enforce strict regulation on cryptocurrencies. The fundamental reason is that cryptocurrencies are developing significantly due to a very assertive policy from central banks. Moreover, he proclaimed that the European Central Bank is likely supervising the lot’s most aggressive monetary policy. He emphasized on its balance sheet, which constitutes 61% of the GDP of the eurozone. 

Daniel was also questioned as to what he thought about the effects of regulations on crypto investors. Daniel answered that the regulation is healthy if it facilitates transparency. Moreover, the regulations could also potentially improve access to crypto assets for small investors.

However, his major warning regarding the regulations was that they intend to enforce intervention or, say, complete prohibition. He emphasized that the ban on the possibility of employing financial measures to purchase BTC or Ethereum is a dangerous route. 

In conclusion, the economist suggested that the central banks take the behavior of cryptocurrencies as a reaction to their own. It directly implies that central banks’ actions are significant in terms of their influence on financial assets.

It would be interesting to see how the crypto market and the ECB president respond to the statements mentioned earlier.

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Ritika Sharma
Ritika Kumari Sharma is an Economics Honors graduate from the University of Calcutta. She is completely into finance and believes that cryptocurrencies are the future. She is an enthusiast learner about the cryptocurrency and blockchain technology.

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