IMF’s Lagarde Thinks ‘Virtual Currency’ Shouldn’t Be Dismissed

Bitcoin Magazine
Christine Lagarde, managing director of the International Monetary Fund (IMF), gave a speech at a Bank of England conference titled ‘Central Banking and Fintech – A Brave New World?’
Lagarde uses the term ‘virtual currency’ essentially as a synonym of ‘cryptocurrency.’ According to Lagarde, virtual currencies such as bitcoin pose little or no challenge to the existing order because they are too volatile, too risky, too energy intensive and because the underlying technologies are not yet scalable. ‘Many are too opaque for regulators; and some have been hacked,’ she added.

This post was published at 21st Century Wire on OCTOBER 6, 2017.