Christine Lagarde, a French lawyer was serving as the Chairman of the International Monetary Fund and Managing Director since 2011, she recently relinquished this position following her nomination as the President of European Central Bank.
She has overtaken Mario Draghi, an Italian Economists who were holding this position since 2011. Christine Lagarde appears more appealing to the crypto community.
Here is what she said:
“In this environment, central banks and supervisors need to ensure the safety of the financial sector, but also to be open to the opportunities provided by change,” Lagarde’s statement reads. “In the case of new technologies — including digital currencies — that means being alert to risks in terms of financial stability, privacy or criminal activities, and ensuring appropriate regulation is in place to steer technology towards the public good. But it also means recognizing the wider social benefits from innovation and allowing them space to develop.”
Christine Lagarde clearly stated her stance, telling people about the social benefits of Bitcoin (BTC) and other digital currency and she is quite cooperative with cryptocurrency, unlike her peers.
Recently during an interview with CNBC, Lagarde proved that her stance on Cryptocurrency is different. She recognized Bitcoin and Cryptocurrency have already begun to challenge the legacy financial system.
“I think the role of the disruptors and anything that is using distributed ledger technology, whether you call it crypto, assets, currencies, or whatever … that is clearly shaking the system,” “We don’t want innovation that would shake the system so much that we would lose the stability that is needed.”
This is good news for the crypto community as this will lead to wide acceptance of Digital Currencies when heads of such reputed banks need interest to digital currencies.