After joining European Central Bank (ECB) as its new president, Christine Lagarde has become the first woman to lead ECB. By being a new ECB boss, Lagarde hits a change in the banks’ viewpoint to the crypto industry. She might eventually urge adoption.
New ECB Boss Speaks About Cryptocurrency
Lagarde’s name counts among the minority of women in senior roles in the era of central banks –besides that she is also a person with positive remarks on Bitcoin and cryptocurrencies. Unlike the past president Mario Draghi, who earlier said “Cryptocurrencies are not currencies,” but highly risky assets, Legarde might spur adoption of crypto in banking era, specifically ECB for now. This is because, in April, she made a comment adding that financial players and regulators are currently underestimating the underlying potential of blockchain and digital asset.
Besides, during the earlier interview with CNBC, she explains:
I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever…that is clearly shaking the system.”
Legarde’s positive vibes on crypto aren’t the first time either, earlier in the year 2017, she warned that the financial institutions and global regulators shouldn’t ignore the cryptocurrencies and the blockchain technology. Earlier, when she was the chief of the Internal Monetary Fund, she made strong comments and has always been showed openness to this industry.
Although the upcoming move of Legarde with ECB in terms of the crypto industry is still uncertain – with Legarde’s crypto-friendly remarks, it is quite exciting to focus on the upcoming move of ECB.
Moreover, Bitcoin, at the same time, has gone up in regards to its trading value by 2.05 percent over the past 24 hours. At the time of writing, the value of Bitcoin against USD counts at $11443 and market cap at $203,766,518,711. To remind, Bitcoin had sided down to $10k figure last week but quickly recovered to trade at over $11k against US dollar.
It is worth noting that the growing financial institutions and regulators are actually stepping in to explore digital assets and blockchain technology. Few such players recently entered the market are J.P Morgan, Fidelity Investments, Bakkt, Facebook, and Switzerland’s Falcon Bank”.
Reports highlight that few people suggest “looking at the Lagarde’s latest background and remarks on the crypto industry,” it is quite easy to predict that she will introduce different approach running the European Central Bank (ECB) rather than following the traditional methods her predecessors worked on.
Disclaimer: The presented information is subjected to market condition and may include the very own opinion of the author. Please do your ‘very own’ market research before making any investment in cryptocurrencies. Neither the writer nor the publication (TronWeekly.com) holds any responsibility for your financial loss.