International Monetary Fund Chief Christine Lagarde called for regulations once again on the 13th of March, releasing a post with the title: “Addressing the Dark Side of the Crypto World”.

She begins with saying that her organization is playing a key role in coordinating the global regulatory activity of cryptocurrencies in order to avoid the illegal usage of said technology. Seems she doesn’t shy back from repeating the same thoughts: terrorism financing and money laundering.

Lagarde stated that more needs to be done to secure that digital assets are used only for the good and she believes that central bankers and finance ministers of the G20 group are playing the most important role in this movement. She also told the readers that one of the most important topic of discussion during the next meeting scheduled in Buenos Aires will be the regulation of cryptocurrencies. She plans to “fight fire with fire”.

She came up with two very specific examples: usage of digital ledger technology to create verified customer information that contains digital signatures as well, and usage of AI, biometrics and cryptography to track down suspicious transactions right before those could do any harm. She also mentioned that the regulations should apply globally, meaning that every country should follow their lead in order to protect its consumers.

“No country can handle this challenge alone,” she continued with “We are uniquely situated to be a forum for helping develop answers in the evolving crypto-asset space”.

She added that it wouldn’t be wise to dismiss crypto assets, and stated that they indeed have great potential, but significant amount of risk as well. Risk that must be taken seriously, and regulated correctly so customers are not harmed. We just hope that they find that correct way which enables the mass adoption of digital currencies without taking away the whole purpose of it.