IMF Chief Lagarde: crypto-currencies need to be monitored in order to maintain the stability of the system
Home News IMF Chief Lagarde: crypto-currencies need to be monitored to the stability of the system to maintain
Marcus Misiak –
Christine Lagarde, the managing Director and Chairman of the International monetary Fund, recently spoke in an Interview with CNBC at the spring meetings of the IMF in Washington over the participation of large technology companies in the cryptocurrency space and how this affects the banking system will have.
In a recent Interview with CNBC, the Head of the International monetary Fund (IMF), Christine Lagarde, said that distributed Ledger technology could have a high value, crypto-currencies have a “real” impact on the financial sector, and even “the System will shake”.
In your opinion, the crypto should be in a controlled Space to maintain the stability. If crypto-currencies continue to grow and develop, to be taken according to Lagarde measures in order to avoid that the consumers are exposed to large risks such as QuadrigaCX, Cryptopia Hackings and General instability, which are still a feature of the market.
I think the role of the disruptors and everything that relates to the technology of the distributed Ledger, whether you crypto, assets, currencies, or whatever to call […], it is the System shaken clearly. We don’t want innovation that would shake up the System so much that we would lose the necessary stability.
Lagarde’s comments on the crypto-space will be most likely caused by a growing list of well-known companies, such as Facebook, and the ICE, the have started to recognize the advantages of the decentralized technology. According to Lagarde technology businesses are “strongly” in the financial sector and should be strictly regulated:
They must be held accountable, so you can trust them fully.
Start-ups and Big Tech companies consider equally the Fianzsektor increasingly as a multi-billion dollar market that is matured for interference. Facebook to develop its own crypto-currency, the “Facebook-Coin”, and Apple has released last month in cooperation with Goldman Sachs a credit card. A number of banks have responded with their own Try to introduce new technologies. JPMorgan is testing for example, a digital Token called “JPM’s Coin”, would be to process payments between customers immediately.
Lagarde also discussed the role of regulatory authorities in maintaining stability and said in the face of competition from large technology companies that the IMF “is mindful of where the competition comes”.
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