Christine Lagarde, president of the International Monetary Fund (IMF), argued that cryptographic money markets should be regulated by the laws that apply to the traditional market.
Lagarde’s release of the IMF’s blog yesterday “Hit by the Dark Side of the Crypto World” . At the beginning of the lagarde, one of the good sides of the blockchain is ordered, and the blockchain ” an exciting technology that can revolutionize not just finance but many other areas “Expression. Lagarde, however, “To be aware of the danger that comes with promise” it adds.
On behalf of the protection of customers, “To respond to fire with fire” Lagarde pointed out that the crypto moneys are not centralized, they are anonymous and they do not need banks. According to the IMF chief, this situation calls for the use of crypto-money in money laundering and terrorism funding.
Lagarde regulations that crypto money could threaten the stability of traditional financial markets, note that it should be done globally and with the help of the IMF. The IMF chief says that they are aiming to protect crypto money investors as they do in traditional markets, and give successful regulatory agencies the following examples: Financial Stability Board (FSB), Financial Action Task Force (FATF) and US Capital Markets Board (SEC).
In addition to this, Lagarde has an interesting comment: “Crypto is eagerly in the middle of revolution.”
“With a global co-operation that only the IMF is involved in, crypto money can reach the full potential, and crypto money can be prevented from becoming an illegal area of activity or a symbol of financial fragility.”
Christian Lagarde so far gave a lot of comments about crypto money . in February “The regulations to be made at the international level towards the crypto paralel are inevitable and necessary” Lagarde stated that the currency is warm to the use of crypto money in worthless countries.