European Central Bank (ECB) President Christine Lagarde, speaking at a Reuters Next conference on Jan. 13, said that global regulation for bitcoin is necessary because it conducts “funny business.”

• Lagarde said that the asset was been used in “totally reprehensible money laundering activity”, though little else was provided to back the claim up
• She said that regulation had to be implemented because “if there is an escape that escape will be used”, while also saying that it is not a currency but a speculative asset
• As ECB President, Lagarde is involved in the creation of a digital euro, believing that it could take years but is “inevitable”
• Lagarde and the ECB see value in applying decentralized ledgers to finance, but is more critical of cryptocurrencies themselves