Larry Fink Says Cryptocurrencies Show Level of Money Laundering

Larry Fink, chief executive officer of BlackRock Inc., said that cryptocurrencies are a speculative platform in Asia and heavily used for money laundering.

“It identifies how much money laundering is being done in the world,” Fink said in a Bloomberg TV interview Tuesday with Erik Schatzker. “How much people are moving currencies from one place to another.”

Larry Fink, chairman and CEO at BlackRock, discusses cryptocurrencies.

(Source: Bloomberg)

Fink added that there is potential for digital currencies.

“If we create a true global digitized currency then you would not have money laundering anymore,” he said. In that case, there are concerns about protecting the system from cyber problems, he said.

    Before it's here, it's on the Bloomberg Terminal.
    LEARN MORE