European central bank (ECB) president candidate and International monetary fund (IMF) chief Christine Lagarde expressed on Sept. 4 that central banks and monetary supervisors ought to protect customers but even be open to innovation like cryptocurrencies.

Changes are opportunities

During her opening statement, shared with Top Market Group in an International Monetary Fund announcement, Lagarde told the Economic and monetary Affairs Committee of the EU Parliament that central banks and money regulators ought to be open to the opportunities offered by change.

She noted:

”In the case of latest technologies – as well as digital currencies – which means being alert to risks in terms of economic stability, privacy or criminal activities, and making certain applicable regulation is in situ to steer technology towards the general public good. however it additionally means that recognising the wider social advantages from innovation and permitting them area to develop.”

Lagarde’s promises

She additionally promised that, if she were to become the ECB president, her priorities would be commitment to the institution’s mandate and agility, inclusiveness and diversity. All whereas focusing on ensuring that the establishments would promptly adapt to the rapidly dynamic surroundings.

As Top Market Group reported in Feb, Lagarde claimed at the time that regulation of cryptocurrencies is “inevitable” and necessary on a global level.

April she additionally stated that blockchain innovators are “shaking the traditional money world” and having a clear impact on incumbent players.

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