Cryptographic currency is shaking the financial system

◆ IMF Executive Director Publicly Announced

I think many people feel that cryptocurrency is making a major change in the financial markets.

In response to an interview with major economic program CNBC, the International Monetary Fund (IMF) Managing Director Lagarde stated on the 10th that digital currency, including cryptocurrency, is swaying the existing banking system.

Mr. Lagarde was interviewed at the IMF Spring Meeting in Washington, DC.

The change in the business model of commercial banks has shown that it is a proof that innovations like cryptocurrencies have a significant impact on existing financial systems.

"Even if it is a bit different from Bitcoin we talked about a year ago, whatever uses decentralized technology, such as virtual currency or cryptographic assets, is certainly shaking the existing financial system."

However, Lagarde points out that such changes must be accompanied by regulation.

"There is no need for innovation that shakes existing systems too much and loses the necessary stability."

This is not the first time that Mr. Lagarde talks about cryptocurrency.

Last November, he said he needed to consider the potential of central bank issued digital currency (CBDC).

"Technology is changing.

We too have to change.

We must not be the last leaves of the dead branch. "

He says experts have to recognize change and respond flexibly to it.

Not only professionals but individuals are the same.

The fact that the director of an international organization makes a statement means that cryptographic currency and digital assets are evolving in earnest!

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