What’s Next for Crypto in EU After Lagarde Leaves?
Christine Lagarde's departure from the ECB will impact future EU crypto policy, particularly regarding MiCA and the digital euro.Summary
European Central Bank (ECB) President Christine Lagarde, a known crypto skeptic who famously stated crypto is worth nothing, is set to step down before the French presidential election. Under her tenure, the ECB consulted on the landmark Markets in Crypto Assets (MiCA) legislation and began work on the digital euro. However, key crypto policy areas remain unresolved, including the regulation of decentralized finance (DeFi) under MiCA and the final details of the digital euro. Lagarde consistently advocated for tight regulation, especially concerning stablecoins, viewing unchecked private control over money as a threat to national sovereignty. Her departure is politically significant as French President Emmanuel Macron will likely influence the selection of her successor, with potential frontrunners like Pablo Hernández de Cos and Klaas Knot also maintaining cautious stances toward crypto, suggesting the ECB's overall skeptical approach to digital assets is unlikely to shift drastically.
(Source：Cointelegraph)