IMF lagard: Ignoring the crypto currency is unreasonable. Another step.

The head of the International Monetary Fund (IMF) believes that crypto-currencies can compete with traditional currencies.

Speaking at a conference in London, IMF chief Christine Lagarde told the audience that, in her opinion, "it is inappropriate to ignore digital currencies."

It is noteworthy that she outlined possible scenarios in which countries, especially those that have "weak institutions and unstable national currencies," can actually use crypto-currencies.

            "Instead of using the currency of another country, for example, the US dollar, some of these countries, seeing the increasing use of digital currencies, will apply them. Call it dollarization 2.0, "she said.

One of the driving factors behind this potential evolution will be changing consumer preferences towards new currencies, which are "easier and safer" than existing ones. This scenario can be accelerated if the Crypto-currency is "more stable," she said.

Lagarde continued:

            "Thus, in many respects, virtual currencies can simply compete with existing currencies and monetary policy. The best response of central banks is to continue effective monetary policy, open to new ideas and new requirements as the economy develops. "

Lagarde also voiced support for the blockade, a topic that the IMF is studying at the organizational level.

Share your opinion about this news in the comments.

Thank you!