IMF Considers Crypto Regulation is Inevitable

This is said by Christine Lagarde, Head of the organization at a summit in Dubai
12 February 2018   279

Head of the International Monetary Fund (IMF) Christine Lagarde said that the fund is trying to prevent the use of bitcoin and other crypto currency for money laundering and terrorist financing. She said this in an interview with CNN Money.

I believe that it [crypto regulation] is inevitable.We had regulation of organizations over the past ten years after the financial crisis, but now we definitely need to move towards regulation of [crypto-currency] transactions.

Christine Lagarde

Head, International Monetary Fund

According to her, the crypto currency has many "dark" moments, so the IMF actively tries to prevent their use for money laundering or terrorist financing.

Also, Kristin Lagarde added that regulators need to focus on how and by whom transactions are conducted, their control, and also on the availability of necessary licenses for operators.

Electroneum to update its blockchain

Electroneum announced that new code will be released on May 30 as its blockchain reaches Block 307500
26 April 2018   50

Electroneum announced its fork is scheduled to take place at block 307500 on May 30. The fork is special as it will not result in two currencies: this is achieved by allowing all the exchanges and pools to update their software in advance. The update covers the following aspects

  • anti-ASIC code:

the implementation of such code will ensure security against any network attack

  • increase of transfer fee:

to ensure Electroneum blockchain withstands blockchain flooding, base fee will be increased to 0.1 ETN

  • block size increase before penalty:

the increase will allow miners to scale the blocks faster and get more transactions into a block

  • disabling of RingCT and Mixin:

disabling some privacy features with letting wallets remain private will get a less wait to fit a transaction into a block and a leaner blockchain size

  • 3 days mempool life:

it will ensure a reduction of the possibility of the returned transactions

Readers will be able to find the rest of the remaining details of the update here. As for the market indicators for Electroneum, here is what they look like at the moment of publication:

  • Average price   $0.024453
  • Market cap         $166,770,279
  • Volume (24H)    $1,234,100