The digital currency sector needs proper regulation but also room to develop, according to Christine Lagarde, chair of the International Monetary Fund (IMF). In her opening statement, shared with Cointelegraph via an IMF news release, Lagarde said: ”In the case of new technologies – including digital currencies – that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good. Financial institutions and regulators should welcome the changes being brought about by the disruptive technology and be proactive in making sure cryptocurrencies adhere to standards of economic stability, privacy and preventing criminal activity, Lagarde said when speaking to the economics committee of the European Parliament. “Cryptocurrency is a new asset class that has been created for people who want to do things with it without having to go through traditional financial institutions,” she said.
The digital currency sector needs proper regulation but also room to develop, according to Christine Lagarde, chair of the International Monetary Fund (IMF). Financial institutions and regulators should welcome the changes being brought about by the disruptive technology and be proactive in making sure cryptocurrencies adhere to standards of economic stability, privacy and preventing criminal activity, Lagarde said when speaking to the economics committee of the European Parliament. “Cryptocurrency is a new asset class that has been created for people who want to do things with it without having to go through traditional financial institutions,” she said.