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IMF urges central banks not to exert pressure on cryptocurrencies

UNITED STATES, WASHINGTON (OBSERVATORY) — In an attempt to protect consumers, central banks and financial regulators should not legally oppress innovative technologies, in particular, cryptocurrencies.

This was stated by IMF head Christine Lagarde at a meeting with the Committee on Economic and Monetary Affairs of the European Parliament, writes Cointelegraph.

In her view, regulators responsible for financial stability should act for the good of society.

“With regard to new technologies, such as digital currencies, it is necessary to be alert when it comes to financial stability, privacy and unlawful acts, and to ensure that all the necessary requirements are presented in order to direct technologies for the benefit of society. But it also means recognizing the wider benefits to society of innovation and providing space for their development,” said Christine Lagarde.

Note that Lagarde put forward her candidacy for the post of chairman of the European Central Bank. She is expected to head the ECB on November 1.

It is noteworthy that back in April, Lagarde said that digital currencies are “shaking” the banking system and should be monitored in order to maintain its stability .

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