• Christine Lagarde, the new ECB boss, could change the way the bank has been approaching cryptocurrencies.
  • The Bitcoin and crypto community has largely welcomed Lagarde’s nomination.

Christine Lagarde, the successor to Mario Draghi as the president of the European Central Bank (ECB), warned that cryptocurrencies are "shaking the system." Her belief could trigger a change in the way ECB has been approaching bitcoin and crypto. Earlier in 2017, Lagarde said in an interview that she doesn’t underestimate the power of cryptocurrencies and blockchain technology. 

The Bitcoin and crypto community has largely welcomed Lagarde’s nomination, citing her openness to crypto as a huge positive and opposite to that of her predecessor Draghi. Draghi stated earlier this year that cryptocurrencies are not currencies, but "highly risky" assets. 

Mati Greenspan, the senior market analyst at brokerage eToro, wrote in a note to clients:

"Several people have pointed out to me already is that the next ECB boss is incredibly crypto friendly. Indeed, Christine Lagarde, who is set to replace Mario Draghi on 1 November is extremely pro digital assets.

Not bitcoin, of course, but she has advocated already for state-backed cryptocurrencies as well as settlement tokens like XRP and JPM coin. We can expect that someone so crypto friendly in such a position will be good for the industry as a whole."

Twitter reactions


“The Lagarde nomination is good for #Crypto! She always had an open and positive remarks about it and now she could lead the ECB! Very #BULLISH”

Crypto News & Investigative Report:

“Christine Lagarde is definitely in favor of using XRP for Banking! She talks about XRP without talking about XRP!”

Marshal Moe:

"Madam lagarde is a pro crypto, visionary woman, Who is also pro ripple and xrp tech. Onward."


“IMF Managing Director Christine Lagarde has reportedly been nominated to head up the ECB. Lagarde has previously spoken positively about blockchain and cryptocurrency, and might usher in a crypto-friendly Europe!”

Anne Leslie:

“Enough of this tripe about Christine Lagarde and her so-called crypto-friendliness The fact that she has some ideas about central bank backed digital currency does not augur anything good. Unless you want to swap #cash for #surveillance.”

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Sellers come in ahead of 10,500

BTC/USD sells of late in the session as we draw to a close on an eventful day in the financial markets. We were expecting Fed Chair Jerome Powell to be the main event of the session but China announced plans to add tariffs to US imports. Then Powell once again stood firm against Trumps pressure to loosen monetary policy and the US President lost it on twitter. 

More Bitcoin News

XRP pushes to session highs but a key level is in sight

XRP/USD pushes to session highs. Key resistance level is in sight. 0.300 still seems the like the long term target for bulls.

More Ripple News

BCH/USD: 300 is well supported once again

Bitcoin Cash has rejected downside moves yet again. Key trendline apex needs testing soon. 360 is still the level to breach for upside momentum.

More Bitcoin Cash News

NEO announces new partnership with gumi Cryptos bringing blockchain to Japan

NEO Foundation has announced a new partnership with gum Cryptos. The two organisations will be working on bringing blockchain technology to Japan. 

More Neo News


Bitcoin Weekly Forecast: Safe-haven or a high-yield asset? Bitcoin qualifies for both

The cryptocurrency market has been a mixed picture this week. Bitcoin attempted to settle above $12,000 practically every single day of the week...

Read the weekly forecast