IMF Head: Cryptocurrencies Imply Potential Benefits

April 18, 2018

Christine Lagarde, the head of the International Monetary Fund (IMF), published a post in her blog on April 16 to voice support to cryptocurrencies. Particularly she stressed, Bitcoin and other cryptocurrencies may potentially generate profits.

Lagarde seems to share her views on cryptocurrencies quite frequently as her last related post was published a month ago. At that time she wrote about need in harsh regulation of cryptocurrencies at the governmental level and possible use of blockchain for this purpose. Now the IMF’s head points out, cryptocurrencies should be treated easily, without sharp criticism or elation.

Lagarde marked it again, there is a necessity in establishing control over illegal crypto-related activity. Note that it was in January when the IMF called for international collaboration on the matter of cryptocurrencies.

“Understanding the risks that crypto-assets may pose to financial stability is vital if we are to distinguish between real threats and needless fears. That is why we need an even-handed regulatory agenda, one that protects against risks without discouraging innovation”, Lagarde says.

Financial watchdogs around the world bring up the issue of global crypto industry regulation more often, the first such attempts however have put back a square one.

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