The European institutions, led by Christine Lagarde, president of the European Central Bank, are convinced that it is necessary to regulate the crypto sector. At the moment there is in fact no international and European regulation, although Lagarde herself had already indicated in 2018 how fundamental a system of rules was in order to control an innovative and revolutionary system of payment systems.
Lagarde defines Bitcoin as a dangerous tool for potential use on the Dark Web and as money laundering from drug or weapon trading. As if this were not the case with FIAT currencies and most likely in much larger proportions than Bitcoin or other currencies. The real goal is to try to put a stop to the rampant success that the cryptocurrency is experiencing not only at a gift level, therefore among small investors, but also at an institutional level, in which American economic giants have explicitly declared that they are buying Bitcoin as it is considered an asset. reliable digital.
If other large institutions, including European ones, were to follow American companies, obviously all this would be a big problem for the ECB and for the whole European and world banking and financial system. Lagarde as president of the European bank, has the task of guaranteeing the stability of banks and governments, and consequently has the task of trying to counter any possible attack on power. The ECB's plan is also to prepare the way for the European digital currency which, according to Lagarde's statements, will take a few more years before it can see the light and I am quite certain that by then the crypto market will be suffocated by regulations.
The digital stablecoin, or CBDC, will probably bring greater transparency on financial transactions and greater optimization of payments, the problem remains that it will be a completely centralized crypto currency controlled by the ECB. In short, as can be expected, cryptocurrencies represent a great technological and financial innovation and above all they evade the current banking system for the transfer of money. A disruption that will bring significant benefits for end customers, users, less for banking institutions as they will see a sharp decline in customers who will request the use of their services and it is plausible that in the course of a few years the same banks will have to evolve if they don't want to fail.
The president of the ECB may have a non-compliant approach to Bitcoin and the crypto market is a concrete fact that the market cap broke through 1 trillion dollars a week ago and probably the pace of growth will be constant throughout the year and for the future years.