Nobel laureate in economics Joseph Stiglitz on Friday called for cryptocurrencies to be banned on the grounds that they facilitate large-scale money laundering.
“make them close“, the American economist told the German weekly Der Spiegel, referring to digital currencies such as bitcoin, noting that the ban could be introduced at the point in the blockchain where cryptocurrencies are exchanged for fiats , ie at the level of exchanges like Binance or Coinbase.
Institutions have been working for years to make financial markets more transparent, he argued. The fact that cryptocurrencies are digital does not make this requirement any less essential, Stigliz added.
“Right now there are two big holes we need to fill, cryptocurrencies and real estate“said the Nobel laureate in economics, in reference to the fight against money laundering in the United States, which remains a center of money laundering.
He attributed partial responsibility for the real estate problems to former President Donald Trump, who he said, “was known as a money launderer and got rich that way“.