Director of IMF: Bitcoin to make Global Finances Secure

Christine Lagarde, Managing Director of the IMF, has written in her blogpost that the Bitcoin growth could make the world financial system safer
17 April 2018   908

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.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   85

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.