• 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

Gekko: 

“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."

LivingRoomOfSatoshi:

“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.”

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