IMF Head: Global Cryptocurrency Regulation Inevitable
February 13, 2018
Christine Lagarde, Managing Director at the International Monetary Fund, has claimed, worldwide internationsl crypto regulation is unavoidable. As she put it, the primary cause for the IMF’s concerns over cryptocurrencies is their use in illicit activities.
“We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions”, Lagarde noted in the interview for CNNMoney.
According to Lagarde, the regulating measures must be based on direct activity. The IMF Head believes, the matters of “who is doing what, and whether they're properly licensed and supervised” must be specifically regarded.
Given all this, the IMF is likely to initiate more vigorous activity in crypto world. Remember, last October Lagarde doubted the idea cryptocurrencies threaten banks.
Yet they’ve got far more popular since with market cap of some grown drastically which all made the IMF press officer call for international collaboration on this matter.
Remarkable enough, together with Lagarde other financial market participants as well as countries’ officials also insisted on global crypto policy while Bitcoin among the main topics at G20 Summit.