IMF President Christine Lagarde, crypto money’s own the Blockcha technology could be used to control them.
Christine Lagarde, using the technology behind the digital fire with the technique of “using fire to fight the fire” Bitcoin called on the strict measures on.
Lagarde warned authorities around the world have the potential to help control cryptographic money, and warned that failure would allow unlimited development of “a potential new tool for money laundering and terrorist financing”.
In an IMF blog post, Lagarde said that the same inventions fed by crypto money could be used to help organize them, and said “We can be confident that they can use the potential of their crypto assets, while they are not used in illegal activities or as a financial weakness.”
Distributed ledger technology, which allows transactions to be verified without the need to be administered or guaranteed by a central authority, can be used to speed up information sharing among regulators in order to improve monitoring of the financial system.
Lagarde, Blockchain technology and that crypto money is an exciting development that can help revolutionize financial services by providing low-cost payment methods for those who do not have bank accounts, but that it is a “danger that comes with hope.”
Lagarde, the last senior financial figure to warn of Bitcoin’s potential dangers, seems to have noticed the potential of the technology behind it.
The IMF chief also stated that cryptographic currencies could cause new fragilities in the financial system in the world with rapid growth and fluctuating price fluctuations.
Lagarde finally said, “Closing the crypto assets is not wise; we must accept the potentials, at the same time we must accept the risks “.