ECB President Lagarde Talked About Cryptocurrencies

Christine Lagarde, President of the European Central Bank, talked about cryptocurrencies. Here are the details...

While the claim that cryptocurrencies, which started to be talked about more with the Russia-Ukraine war, were used by Russian oligarchs to circumvent sanctions, has been seriously discussed for a while, a similar claim was made by ECB President Christine Lagarde. Lagarde, who spoke at the panel on “Emerging Challenges for Central Banks in the Digital World” at the Bank for International Settlements (BIS) Innovation Summit, said, " Cryptocurrencies are definitely used to circumvent sanctions. As the European Union Central Bank, we warned companies not to be involved in these transactions. The volume of switching from rubles to stablecoins is also increasing significantly.” Lagarde is known for her anti-crypto statements. In a much-spoken statement, the ECB President said, "Cryptocurrencies are not money. This is not up for debate."