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World-wide crypto-regulation for IMF head Lagarde "inevitable"

Tuesday, February 13th, 2018 | bitcoin updates

Read article: According to IMF head Christine Lagarde, the worldwide regulation of cryptocurrencies is "inevitable" ahead. She said this in an interview at the current World Government Summit in Dubai last Sunday. The head of the International Monetary Fund IMF sees the reasons for this primarily in the dangers of their illegal use. After repeated prudence and coordinated activities, Lagarde's renewed warning does not just suggest a future IMF intervention, but rather a more likely end to the global patchwork of regulation. Asked Christine Lagarde, the answer lies with some of the rulers Days around already on the table. How to cope with the growing influence of cryptocurrencies, she is sure on Sunday at the World Goverment Summit policy and technology summit. "It is inevitable. This is clearly a field in which we need international regulation and decent surveillance, "said the 62-year-old Frenchwoman in an interview with CNNMoney. In the process, she warned against "dark activities" in the orbit of digital currencies. This need would lie above all in the dangers of illegal use. She emphasized that the IMF is actively pursuing efforts to curb the possibilities of money laundering and terror financing through digital currencies. However, regulators would have to relate much less to individual currencies, but rather to look at those who use them. It is important to check who uses the currencies for what and if there are licenses and competent oversight. Lagarde has often warned against the criminal potential of cryptocurrencies in the past. A call for joint regulation is nevertheless new.From Davos to Buenos Aires: Crypto regulation on the highest economic parquetLast recently, the IMF's boss spoke last month at the World Economic Forum in Davos on the issue of crypto regulation. Here she reaffirmed that the IMF is already working intensively on the opportunities and challenges of cryptocurrencies. Illegal transactions made with the help of cryptocurrencies are unacceptable. Nevertheless, she gave the innovative power of currency newcomers to consider. In Davos, for example, US Treasury Secretary Steven Mnuchin or British Prime Minister Theresa May had spoken. For their part, they signaled forthcoming regulatory initiatives, following Echo Lagardes. For example, May announced that her government would be "very serious" about the criminal uses of cryptocurrencies. Meanwhile, Finance Minister Peter Altmaier and his French counterpart Bruno LeMaire are calling for krytoworks to be on the summit agenda of the upcoming G20 summit this month. For example, Germany and France are urging host country Argentina in a joint letter to the G20 presidency to consider the issue of cryptocurrency regulation at the March summit. There, it was important to develop international solutions to deal with the emerging crypto-trade in the future.Buenos Aires confirms what Davos has already announced: Crypto currencies are determined to make their way to the big stages of the World Economic Summit. Worldwide, however, is still developing in front of a real patchwork patch with regard to the regulatory responses of individual states. When governments, state institutions and public authorities are asked, there is no consensus about how to deal with digital payment alternatives. If the IMF now coordinates, this would be a real game changer.BTC-ECHOAbout David BarkhausenDavid Barkhausen has already written and reported as a freelance journalist for several daily newspapers, radio, television and incidentally his own blog. Since 2017, the Master of Political Science at the University of Heidelberg has dedicated himself to the topic of blockchain. In this context, he focuses primarily on the areas of regulation, society and economic policy. All contributions by David Barkhausen Bilddellenshutterstock_185321009: https://www.shutterstock.com/de/image-photo/paris-france-may-27-2011-christine -185,321,009? src = cMk1sikoXLAefuSryNhvpg-1-13


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