The managing Director of the International monetary Fund (IMF), Christine Lagarde (Christine Lagarde) said that cryptocurrencies, like BTC and ETH can “seriously affect our approach to savings, investments and paying bills”. Its position in respect of digital assets is Christine Lagarde explained in the official blog of the organization.
Director of the IMF believes that, despite all the disadvantages of the cryptocurrency “provide quick and affordable financial transactions, while partly having the advantages of cash”. She also stated that the blockchain technology is able to make “markets work more efficiently”, and smart contracts could “eliminate the need for individual mediators.”
MS Lagarde even expressed the belief that digital currency and distributed registries have the potential to “strengthen the right to property, to strengthen market confidence and stimulate investment” in developing countries.
Earlier, former French Finance Minister spoke about crypto is not so clear. Change the position of Lagarde can be traced back to last year, when during a speech she said that digital money “, perhaps even papernika with the existing currency and monetary policy.”
Speaking about the global economy, Christine Lagarde also noted the benefits of cryptocurrency at the international level:
“Decentralized applications motivated by the increasing demand for scriptactive, will lead to the diversification of the financial landscape, a more balanced market of centralized and decentralized service providers and the emergence of a financial ecosystem with higher efficiency and, potentially, more resistant to threats.”
On behalf of the IMF Lagarde has expressed the readiness of the organization to do everything for the development of necessary legal fields:
“Since scriptactive know no borders, it is essential to establish international cooperation. And here the IMF, which brings together the 189 countries that can play a key role as a consultative body or forum for discussion and joint work on consistent regulatory approach.”
Will the international monetary Fund seriously to fight for the right of a legislative source in the field of cryptocurrency, is unknown. Earlier Lagarde herself claimed that, somehow, global regulation of cryptocurrency is inevitable.
