The issue regarding regulation in the crypto space has been addressed a lot, especially lately, and its important cannot be highlighted enough.
More clarity and regulation would allow more trust to be built, and this would trigger a massive wave of institutional investors.
Emerging technologies are vital to society
Now, in a statement that has been prepared the other day for the Economic and Monetary Affairs Committee of the European Parliament, Christine Lagarde, chairman of the International Monetary Fund, highlighted the importance of emerging technologies.
These include cryptos as well and the statement also makes sure to highlight the need for supporting their development in a way that is good for us.
Steering the emerging technologies towards the public good
Lagarde 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.”
She continued and said: “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.”
Lagarde also highlights the fact that this also means “recognizing the wider social benefits from innovation and allowing them space to develop.”
She also said that there’s a lot that we can learn from the ones who see the different aspects of monetary policy in our daily lives.
This is not the first time when Lagarde makes positive comments about crypto and shows her support towards the new technologies.
A while ago, she called Ripple and Circle “helpful” and she also made sure to point out the fact that digital assets are disruptive.
The crypto space had a great year so far, with most of the efforts being concentrated on mainstream adoption of crypto and the blockchain tech and on achieving more clarity and regulation.