Christine Lagarde, head of the IMF has said that central banks around the world should consider issuing cryptocurrencies. According to Lagarde, this would make crypto transactions safer.
Speaking at a conference in Singapore, Lagarde said:
I believe we should consider the possibility to issue digital currency. There may be a role for the state to supply money to the digital economy. The advantage is clear. Your payment would be immediate, safe, cheap and potentially semi-anonymous… And central banks would retain a sure footing in payments.
Central banks in Canada, China, Sweden and Uruguay are all “seriously considering” digital currency payments, according to Lagarde.
Regulators have voiced concerns over the safety of cryptocurrencies due to their anonymity and have called for greater oversight. Ms Lagarde has previously condemned cryptos, claiming that they were used by criminals and terrorists.
Bank of England’s governor Mark Carney has also called for cryptocurrencies to be regulated to stop their use for criminal activity.