Bitcoin Is Unlikely to Escape Regulation, Riksbank Governor Says

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Bitcoin and other cryptocurrencies are unlikely to dodge regulatory oversight as supervisory authorities respond to the sheer popularity of the phenomenon, according to the governor of Sweden’s central bank.

Though monetary policy officials have voiced near universal skepticism toward Bitcoin and its rivals, cryptocurrencies have continued to build an enthusiastic following. That’s prompted some of the biggest names in finance to move in, as Wall Street banks such as Goldman Sachs Group Inc. offer trading services tied to crypto.

Read More: Kuroda Joins Chorus of Central Bankers Casting Doubt on Bitcoin

“When something gets big enough, things like consumer interests and money laundering come into play,” Riksbank Governor Stefan Ingves said on Monday. “So there’s good reason to believe that [regulation] will happen.”

Photographer: Mikael Sjoberg/Bloomberg

Sweden’s financial markets minister, Asa Lindhagen, said the government is already in the process of tightening standards for crypto exchange platforms. But she called it a “work in progress at the international level.” She also said that addressing the risk of money laundering that cryptocurrencies represent is a “very important issue” that will require cross-border work.



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