IMF Head Christine Lagarde has spoken again in relation to the cryptocurrency market. This time, she has made it clear she believes that global Cryptocurrency regulation is certain.
12 February, AtoZForex – The Head of the International Monetary Fund (IMF), Christine Lagarde, has stated that international cryptocurrency regulation is “inevitable.” Christine Lagarde is the managing director of the international organization, which key purpose is to solidify global financial stability.
IMF Head Lagarde Says Global Cryptocurrency Regulation is Certain
IMF Chairwoman has stated that her organization’s concerns in regards to the cryptocurrencies are mainly caused by the possibility of their use for the illegal financial activities. She has added:
“We are actively engaging in anti-money laundering and countering the financing of terrorism. And that reinforces our determination to work on those two directions.”
She further states that the regulatory direction should be activity-based, thus concentrating on “who is doing what, and whether they’re properly licensed and supervised.”
The new comments have appeared in line with Christine Lagarde’s public remarks on cryptocurrency. However, the fresh comments from Lagarde signal that the IMF might be moving to be more actively engaged in preventing the illegal use of cryptocurrency.
Europe Cryptocurrency Regulation Discussion
In fact, there were many cases Lagarde has warned the public about the fact that cryptocurrencies should be taken more seriously. She has also called for the global cooperation among global financial regulators. In addition, she does not stand alone in regards to this idea. France and Germany officials call for Argentina G20 cryptocurrency talks.
According to the latest developments, French finance minister Bruno Le Maire, German finance minister Peter Altmaier and the governors of those countries’ central banks have sent a letter to the Argentinian government. In the letter, they have raised the concerns in regards to the impact of cryptocurrencies. The officials have stated that cryptocurrencies “could pose substantial risks for investors.”
According to the online reports, the proposed discussions could result in the regulation. However, what kind of regulations might appear is still uncertain. However, the letter asks for a call for “appropriate measures.”
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