They’ve been looking for a good excuse to regulate crypto. From Tyler Durden at zerohedge.com:
Update: Christine Lagarde, president of the European Central Bank (ECB), has called on lawmakers to approve a regulatory framework on crypto, hinting at potentially preventing Russia from getting around economic sanctions.
In response to a question on Russia potentially using crypto to evade some of these measures, the ECB president urged action on an existing proposal for a regulatory framework on digital assets.
“Whenever there is a ban or prohibition or a mechanism in place to boycott or prohibit, there are, always criminal ways that will try to circumvent the prohibition or the ban” said Lagarde.
“It’s so critically important that MiCA is pushed through as quickly as possible so we have a regulatory framework within which crypto assets can actually be caught.”
Notably, the European Parliament has delayed a vote on the Markets in Crypto Assets Directive (MiCA) due to fears that it would be “misinterpreted as a de facto Bitcoin ban” over questions surrounding the industry’s energy demands.
* * *
As Daniel Roberts and Jeff John Roberts detailed for Decrypt earlier, the largest European military conflict since World War II is raging in Ukraine, and Bitcoin could shape the outcome.