The cryptocurrency market has largely operated free from regulation since Bitcoin first came about in 2009. With crypto on everyone’s minds these days, however, the IMF says Bitcoin regulation is an unavoidable eventuality. “It’s Inevitable” According to International Monetary Fund (IMF) chief Christine Lagarde, it’s not a matter of “if” cryptocurrencies will be regulated by world governments, but rather “when.” Explained Lagarde to CNNMoney: It’s inevitable. It’s clearly a domain where we need international regulation
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The International Monetary Fund urges banks to pursue blockchain investment before they face irrelevancy in the face of a competing fintech industry. How A Central Authority Can Stand to Benefit A staff discussion note from June 2017 provides evidence of the IMFs position on cryptocurrencies, as they move to adapt and promote adoption. The Director of the IMF Christine Lagarde has previously praised blockchain technology for the savings and speed it offers the financial services industry. Her comments
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For some countries around the world, times are very tough as local economies are starting to fall apart. Ukraine is one of those countries, as inflation will be hitting a record-high of 44 percent later this year. Combine that number with a near 25-percent inflation, and anyone can see why the Ukraine economy needs a bailout. At the same time, Ukraine’s central bank is warning people about the use of Bitcoin and other digital currencies.