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IMF: Cryptocurrency threatens the stability of the banking system

Cryptocurrencies not only significantly affect the financial sector, but also threaten the stability of the international banking system, says Managing Director of the International Monetary Fund, Christine Lagarde. In this regard, she calls to monitor and tightly control the young digital asset market.

“Financial technology, including digital currencies, is“ swinging ”the banking system and must be tightly controlled to maintain the stability of the system, said Christine Lagarde in an interview with CNBC.

The head of the IMF drew attention to the fact that the change in business models of commercial banks is a direct indication that such innovations as cryptocurrency have a clear impact on the financial sector.

“I think that all sabotage activities based on distributed registry technology, whether it is cryptocurrency, digital assets, tokens, is unimportant: it all clearly shakes the financial system of the world.
We do not need innovations that will shake the system so that we lose control of everything, ”added Lagarde.


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