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IMF head: cryptocurrencies must be regulated one way or another

11 February 2018 21:00, UTC

Christine Lagarde, head of the International Monetary Fund, has stated to American journalists that the regulation of the cryptocurrency world is inevitable and something must be done about tax evasion and money laundering, two key problems the Fund will try to solve.

In her older statements, Christine Lagarde supported the blockchain technologies development, telling they would prove as an excellent optimization tool. The need for the regulation of cryptocurrency sphere on the global level has recently been voiced by German, British, American, French and Russian authorities.

One of the high-ranking leaders of the International Settlement Bank Agustin Carstens has also lately called for tightening of restrictions of this financial system.

Meanwhile, the Australian research firm called SSRN has completed a study in which it found that 44% of Bitcoin transactions were illegal. The team assessed the history of money transfer which, unlike the data of banks, can be read by anyone. But they also noted that thanks to the structure of Bitcoin, such activities became visible in the first place, and cash money do not have such transparency.