Christine Lagarde wants to impose a strict framework around crypto-currencies

The leader of the international monetary Fund, Christine Lagarde, had already asserted its willingness to strictly crypto-currencies a few weeks ago. This time, it is in an article she explains that it is time to put in place a framework to regulate the use of virtual currencies.

The danger of crypto-currencies

Christine Lagarde had expressed a few weeks ago on the subject of crypto-currencies. If the leader of the IMF recognises the strengths of the technology BlockChain, she fears the risks associated with its use.

Pixabay – The Digital Artist / The crypto-currencies can pose a hazard and it is necessary to regulate quickly after Christine Lagarde.

In fact, she explains in an article published yesterday that it is imperative to avoid that the digital assets cannot be used for illegal purposes or for money laundering : “The reasons why the crypto-assets – or what some call crypto-currencies – are so attractive, it is also what makes their danger. These offerings digital are characteristically designed in a decentralized manner, without the need to rely on a central bank. This gives the transactions of crypto-assets with a dimension of anonymity, similarly to the exchange of species. “

A regulatory urgent

The article is titled, ” Meet the dark side of the crypto-world.” The leader of the international monetary Fund reminds that it is imperative to put in place financial regulators. She speaks in particular of certain innovations such as the artificial intelligence, which, could it create registries of information and digital signatures : “In effect, the same innovations in support of crypto-assets can also help us to regulate them. In other words, we can fight fire with fire. “

Harnessing the potential of #cryptoassets — while also ensuring they never become a haven for money laundering & terror financing gold threaten financial stability – calls for cooperation & smart use of technology. I explain the promise & peril in my blog. https://t.co/dULHncuAUQ

— Christine Lagarde (@Lagarde) March 13, 2018

Christine Lagarde wants to act as quickly as possible to govern the use of crypto-currencies. And she is not alone in this fight, since many regulators are calling for international coordination on this topic. Japan has also just ask the members of the G20 to discuss a regulation at the next meeting financial.

Source : NCC