IMF chief: global regulation of cryptocurrency is inevitable

IMF chief: global regulation of cryptocurrency is inevitable

Christine Lagarde, head of the International monetary Fund, said that international regulation of crypto-currencies “inevitable”.

Lagarde, who is managing Director of an international organization whose purpose is to strengthen global financial stability, said that the concern the IMF about the cryptocurrency, is associated mainly with their possible use for illegal financial activities.

In an interview with CNNMoney February 11, she said:

We actively and strongly engaged in the fight against money laundering and countering the financing of terrorism.

Lagarde further said that the regulation should be based on activities associated with cryptocurrencies, and focuses on “who does what, is whether it is licensed and monitored this activity.”

The opinions voiced in this interview is consistent with other statements Lagarde about cryptocurrencies, and this confirms the seriousness of the IMF to prevent the illegal use of cryptocurrency.

Previously, Lagarde has stated that cryptocurrency should be treated seriously and called on the international community to cooperate in this matter. Lagarde fears about the use of cryptocurrency for criminal purposes is shared by many world leaders.

During the world economic forum in Davos in late January, the Prime Minister of great Britain Teresa may, President of France Emmanuel Makron and the Secretary of the Treasury USA Steven Mnuchin voiced a similar point of view.

And last week, the Finance Ministers of France and Germany called on the group of countries of “big twenty” to discuss joint action against crypto-currencies at the upcoming summit.

Let's Disqus