Christine Lagarde: global regulation of cryptocurrencies is inevitable

Christine Lagarde, head of the International Monetary Fund, said that measures to regulate cryptocurrencies around the world are inevitable.

As managing director of an organization whose goal is to strengthen global financial stability, Lagarde emphasizes that the IMF's concern with cryptocurrencies is central way with their potential use in illegal financial activities.

In an interview with CNNMoney On February 11, the head of the IMF said:

We are actively fighting money laundering and the financing of terrorism. And this strengthens our resolve to work both ways.

Lagarde went on to explain that the approach to regulation should primarily be based on understanding the activity around cryptocurrencies: knowing who is doing what, who is controlling it, and whether it has a license.

While Lagarde's new comments are largely consistent with her previously expressed views, this statement may indicate that the IMF now intends to become more involved in preventing the illegal use of cryptocurrencies.

Previously, Christine Lagarde has repeatedly insisted that cryptocurrencies should be taken more seriously, calling for global cooperation from world regulators on this issue. Today, she is not alone in expressing concern about their use for cross-border crime.

Recall also that during the World Economic Forum in Davos in late January, some world leaders also shared her views, including British Prime Minister Theresa May, French President Emmanuel Macron and US Treasury Secretary Steven Mnuchin.

Recall that last week, senior officials from France and Germany have called on the G20 group of countries to discuss joint action on cryptocurrencies ahead of the summit next month.

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According to coindesk.com