IMF Chief Lagarde: Cryptocurrencies Make Future

Cryptocurrencies and blockchain technologies gradually win favor of leading figures. Christine Lagarde, the Managing Director of the International Monetary Fund (IMF) sure does confirm the trend. She believes that governments could take many advantages of introducing state cryptocurrency. Christine stated at a fintech conference in Singapore: “The advantage is clear. Your payment would be immediate, safe, cheap, and potentially semi-anonymous. And central banks would retain a sure footing in payments.”

IMF Chief, as well, emphasized great importance of cryptocurrencies for the development of remote and poor countries economies: “We know that banks are not exactly rushing to serve poor and rural populations.”

More reflexion on crypto from Ms Lagarde

The IMF has recently published a new research on the pros and cons of central bank digital currency. The paper says that state currency could facilitate to financial inclusion, consumer protection and security. It could also make payments more private.

Furthermore, the Head of IMF warned regulators and other participants about cryptocurrency-related threats, “[Regulators] must protect consumers and investors against fraud and combat tax evasion, money laundering and the financing of terrorism. They must also protect the integrity and stability of the financial system.”

Lagarde’s statements about promising future of cryptocurrencies and blockchain technologies often make the headlines in the international press.