Head of IMF Christine Lagarde Believed Regulators Should be More Friendly Towards Cryptocurrency

By Anne W. | September 6, 2019

Christine Lagarde – head of the International Monetary Fund (IMF) – has reportedly shared that providing protections for customers is just as important as having an open outlook upon cryptocurrencies innovations.

Specifically, as deprived from her opening statement in an IMF press release on September 4, Lagarde told the Economic and Monetary Affairs Committee of the European Parliament that, central banks and financial lawmakers should keep a positive attitude towards the innovations changes of the new world bring upon. 

”In the case of new technologies – including digital currencies – that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good. But it also means recognising the wider social benefits from innovation and allowing them space to develop.” Lagarde claimed. 

She further gave her word that, should she were able to obtain the presidential position of the European Central Bank (ECB), she would make committing to the institution’s mandate and agility, inclusiveness and diversity her first priority, while simultaneously putting in extensive efforts to ensure that the institution would be adaptive enough, to not miss out on the opportunities a changing environment can offer.

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