Head of IMF calls financial authorities for softer pressure on cryptocurrency sector

Posted 05 September, 2019

The head of the International Monetary Fund Christine Lagarde believes that the financial authorities along with central banks in the countries might not take measures that could affect and put pressure on innovations, including cryptocurrencies. The statement was made during the meeting with the Economic and Monetary Affairs Committee of the European Parliament. 

She started her opening statement:

"I am honoured to appear before your Committee for this hearing. The relationship between the European Parliament and the ECB is a cornerstone of our Monetary Union..."

Lagarde noted in the message that the regulators "need to ensure the safety of the financial sector " in the country, while all the measures must be taken in the best interests of the people 

"In the case of new technologies [digital currencies ] that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good..," she said. 

Besides, Christine Lagarde is said to be the next President of the European Central Bank. It is expected that she will be appointed to this position on November 1.

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05 September, 2019 11:27

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