IMF head: regulators should not impede the development of the cryptocurrency industry

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Kristin Lagarde promised to have a more flexible approach to regulating the cryptocurrency industry if she is elected as chairman of the European Central Bank.

Christine Lagarde, chairman of the International Monetary Fund (IMF), speaking on Wednesday at the Economic and Monetary Affairs Committee of the European Parliament, urged central banks and financial regulators not to impede the development of innovative financial technologies, including cryptocurrencies, protecting consumer interests. This is written by the Cointelegraph.

Lagarde agreed that government intervention is necessary in matters of illegal activity, where digital currencies can play a key role, as well as in the problems of economic stability of national assets and user privacy. However, this does not mean that states should suppress the positive dynamics of the development of such technologies.

In addition, the head of the IMF promised to have a more flexible approach to regulating the cryptocurrency industry if it is elected as chairman of the European Central Bank.

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