Ms Lagarde claimed in her blogpost that cryptocurrencies like bitcoin could provide fast and inexpensive transactions, as the basic blockchain technology is able to make financial markets safer. Revealing in a blogpost that the politicians and central bankers to meet in Washington, she said there was hope for a world where companies using digital currencies could exist together with traditional banks.
Just as a few technologies that emerged from the dot-com era have transformed our lives, the crypto assets that survive could have a significant impact on how we save, invest and pay our bills. An important initial step will be to reach a consensus within the global regulatory community on the role crypto-assets should play. Because crypto-assets know no boundaries, international cooperation will be essential.
Christine Lagarde, Managing Director, IMF
The IMF is not the first structure to want to regulate Bitcoin and other cryptos. The Bank of France and the Bank of England have already put forward their object to regulate the crypto-currencies` using.
Ms Lagarde`s comments are likely to append to the positive mood built around cryptocurrencies over the last few days, with some prominent Islamic scholars tagging bitcoin as halal investment. This could pulse another uptick in the market.
