The International Monetary Fund (IMF) Chief, Christine Lagarde, has given important comments related to cryptocurrencies. She said that regulators should focus on creating policies that will allow virtual currencies to grow, while minimizing the side effects of them.
Christine Lagarde Positive Towards Cryptos
According to a blog post written by Christine Lagarde, governments and regulators should have ‘an even-handed approach’to cryptocurrencies and blockchain enterprises. At the same time, she explains that virtual currencies are undertaking a creative process that will have its fruits in the future.
Christine Lagarde wrote:
“Just a few technologies that emerged from the dot-com era have transformed our lives, the crypto-assets that survive could have a significant impact on how we save, invest and pay our bills. That is why policymakers should keep an open mind and work toward an even handed regulatory framework that minimizes risks while allowing the creative process to bear fruit.”
Mrs. Lagarde has a very positive stance towards cryptocurrencies, but always putting a limit.
“A judicious look at crypto-assets should lead us to neither crypto-condemnation nor crypto-euphoria,” she explains.
Furthermore, the IMF Chief remarks some important benefits of crypto-assets. For example, cryptocurrencies allow individuals and enterprises to process inexpensive financial transactions, blockchain technology is shaping different industries all over the world, and developing economies could be benefited by both cryptocurrencies and distributed ledger technology.
“In my view, the fin-tech revolution will not eliminate the need for trusted intermediaries such as brokers and bankers. There is hope, however, that decentralized applications spurred by crypto-assets will lead to a diversification of the financial landscape, a better balance between centralized and de-centralized service providers and financial ecosystem that is more efficient and potentially more robust in resisting threats,”comments Mrs. Lagarde.
She finishes the article by explaining how her approach towards cryptos and blockchain technology would be without harming the market, but at the same time avoiding unwanted side effects.
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