The managing Director of the International monetary Fund Christine Lagarde speaking at the conference in Singapore urged Central banks to think about issuing its own cryptocurrency. According to the economist, you need not be afraid of change and keep pace with change and new thinking.
Lagarde, in particular, noted that Central banks around the world, including Canada, China, Sweden, and Uruguay are seriously considering the possibility of issuing cryptocurrency. In addition, according to the head of the IMF, cryptocurrency has a number of strengths: financial inclusion (accessibility and equality of opportunity of access to financial services); safety and consumer protection; privacy payments.
At the same time, Lagarde noted that the obvious risks of cryptocurrencies are risks of loss of financial centralization, as well as financial stability. In addition, crypto-currencies may have an adverse effect on the ability of innovation.
“I think we should consider the possibility of issuing digital currencies. States can play a role in the supply of money for the digital economy,” said Lagarde.
The managing Director of the IMF stressed that the digital currency is not a panacea and must be read “seriously, carefully and creatively.”
Earlier it was reported that the international monetary Fund has been developing a regulatory framework for the stock market.
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