Speaking in Singapore on FINTECH the event, Deputy General counsel for legal Affairs of the International monetary Fund Ross Leckow (Ross Leckow) said that research and experiments conducted by this organization in the blockchain sector, will form the basis for future policies regulating the industry.
In addition, the panel discussion with the head of the Ripple Garlinghouse brad (Brad Garlinghouse) he called the most interesting IMF research areas: technology of the blockchain, artificial intelligence and cryptocurrencies. In these areas, according to him, the IMF in the last few years has prepared and published an impressive list of documents.
Noting the increased attention to blockchain technology, Lackow stressed that it must be considered in conjunction with other FINTECH companies. He also said that banks and governments have demonstrated a willingness to receive from the IMF manual on the regulation of this nascent sector.
We will remind, the head of the IMF Christine Lagarde (Christine Lagarde) a year ago stated that Central banks and regulators must begin to take seriously the cryptocurrency. In her view, the international regulation of transactions with cryptocurrencies is inevitable, and blockchain technology I need to use to fight the dangers that they carry. For the Fund it is important for global cooperation to regulate cryptocurrency, while published in the spring annual report, the IMF concluded that cryptocurrencies do not pose threats to global economic stability.
However, in September the IMF expressed opposition to the release by the Republic of the Marshall Islands to issue a national cryptocurrency as a second legal tender in the country along with the US dollar. In the opinion of the Directors of the IMF, the issue of cryptocurrencies in the absence of comprehensive measures to combat money laundering can lead to the fact that the US Bank would stop relations with the country.