European Central Bank (ECB) President Christine Lagarde has reaffirmed that Bitcoin will not be included in the official reserves of the European Union. She stated that the digital asset does not meet the necessary criteria for liquidity, security, and safety, making it unsuitable for central bank holdings.
Lagarde Confident Bitcoin Will Not Enter ECB Reserves
Speaking at a press conference, ECB President Christine Lagarde made it clear that Bitcoin will not become part of the reserves of any eurozone central bank. She emphasized that reserves must be liquid and free from concerns related to illicit activities.
“There is a view around the table of the Governing Council and most likely the General Council as well that reserves have to be liquid, that reserves have to be secure, that they have to be safe, that they should not be plagued by the suspicion of money laundering or other criminal activities. And as a result, I’m confident that Bitcoin will not enter the reserves of any of the central banks of the General Council,” Lagarde stated.
Her comments followed remarks by Czech National Bank (CNB) Governor Aleš Michl, who suggested that his institution would assess the possibility of holding a portion of its reserves in Bitcoin.
This Is A Developing Story, Please Check Back For More
The post Just In: ECB President Lagarde Rules Out Bitcoin in EU Reserves, Here’s Why appeared first on CoinGape.
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