GETTY IMF chief Christine Lagarde believes cryptocurrencies will become regulated

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Ms Lagarde said government regulation of cryptocurrencies is “inevitable” as world leaders scrutinise digital currencies. She said the IMF is doing its best to stop the use of cryptocurrencies from being used to launder money or finance terrorism while governments and central banks are starting to pay close attention to cryptocurrencies due to the possibilities of scams. Ms Lagarde told CNN Money: "It's clearly a domain where we need international regulation and proper supervision." The IMF boss said the body needs to establish “Who does what and who is licensed to do what and who is properly supervised”.

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Kevin Murcko, CEO of cryptocurrency exchange CoinMetro, supported Ms Lagarde’s insistence cryptocurrencies should be regulated in the future. Mr Murcko said: “Christine Lagarde is absolutely right in her assertion that cryptocurrency regulation is ‘inevitable’. “Bitcoin and other cryptocurrencies have gone mainstream over the last year or so, to the point where regulatory bodies can no longer ignore their influence. Despite recent corrections in prices, for the foreseeable future, cryptocurrency is here to stay. “Regulation is a fantastic opportunity for the cryptocurrency space: it protects investors from fraudulent exchanges, brings stability to an otherwise volatile marketplace, and discourages the kind of ‘dark activities’ that Lagarde mentions.